Engineering major Larsen & Toubro (L&T) on Friday said it will seek the assistance of an external expert to review the bribery charges relating to the construction of Cognizant’s Chennai campus.

In an announcement to NSE on Friday, L&T said that during the Audit Committee meeting held on 27th February 2019, the "management presented all details of the company's construction contracts with CTS, including particulars of development relating to the recent settlement between CTS and SEC and the ongoing proceedings before Department of Justice, USA (DOJ) In this connection,

MUMBAI: Non-banking financial company L&T Finance is planning to raise up to ₹1,500 crore through non-convertible debenture issues in three tranches.

The base size of the issue, which is opening on March 6 and closing on 20, is ₹500 crore, with an option to retain over-subscription up to ₹1,000 crore, company said Thursday.

New Delhi: Infrastructure major Larsen & Tourbo (L&T) Monday said its construction arm has won a contract for building a major airport.

The engineering and construction company, however, did not provide the exact value of the contract; but specified that as per its classification, the mega project is in the range of over ₹7,000 crore.

New Delhi: IT firm Larsen & Toubro lnfotech on Thursday announced acquisition of Germany's Nielsen+Partner for EUR 28 million (approx Rs 224.15 crore).

"The company, through its wholly-owned subsidiary, Larsen & Toubro lnfotech GmbH, Germany, has signed a definitive agreement to acquire Nielsen+Partner Unternehmensberater GmbH headquartered in Hamburg, Germany, along with its identified subsidiaries in Luxembourg, Switzerland, Thailand, Singapore and Australia and branch office in Belgium," Larsen & Toubro lnfotech said in a regulatory filing.

L&T Hydrocarbon Engineering, a wholly owned subsidiary of Larsen & Toubro, has won a mega order worth over Rs 7,000 crore from Sonatrach-Algeria, the engineering major said in a statement on Tuesday.

The engineering, procurement, construction and commissioning order is for setting up of to three Central Processing (CPF) facilities in the Adrar province of Algeria.

Anil Ambani-led Reliance Group Friday accused L&T and Edelweiss entities of "illegal" and "motivated" actions in invoking the pledged shares and selling them in open market causing a steep fall in its share value.

A few NBFCs, "substantially L&T Finance and certain entities of Edelweiss Group, have invoked pledge of listed shares of Reliance Group and made open market sales of the value of approximately Rs 400 crore from February 4 to 7," the group said in a statement.

Shares of Larsen & Toubro (L&T) were up 4 per cent to Rs 1,337 apiece on BSE in the early morning trade in an otherwise weak market after the company reported 37 per cent year-on-year (YoY) rise in consolidated net profit at Rs 2,042 crore in December quarter (Q3FY19). The healthy performance during the quarter was on back of improved operating performance and a higher other income.

The rejection of Larsen and Toubro’s (L&T) share buyback plan by Sebi has led to questions on whether the standalone or consolidated financials of a company should be considered. However, proxy advisory firm IiAS feels the latter is a more prudent method of defining parameters.

On Saturday, L&T had announced that the market regulator had denied it permission for a Rs 9,000-crore share buyback programme.

Shares of Larsen & Toubro (L&T) recovered after falling 3 per cent to Rs 1,275 apiece on BSE even as the Securities and Exchange Board of India (Sebi) denied approval to the company’s Rs 9,000-crore share buyback plan, citing compliance issues over its post-buyback debt-equity ratio.

Engineering major Larsen & Toubro (L&T) Saturday said market regulator Sebi has denied permission for its Rs 9,000 crore share buyback offer. In a regulatory filing to stock exchanges, L&T said the Securities and Exchange Board of India (Sebi) has asked it not to proceed with the buyback.

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