Larsen And Toubro Ltd. News

L&T Construction's Power Transmission & distribution business has received orders for a 400/132kV Substation in the UAE and 400kV Overhead Transmission Lines in Kuwait, helping to generate and evacuate power in the region

On Monday, L&T reduced the number of shares it will buy in the offer from 33.33 million to 31.25 million. This is to ensure that the company's spend in the buyback is restricted at Rs.10,000 crore as the stock has rallied since the original announcement

The conglomerate will offer up to ₹3,000 per share, a 17% premium to current market price of ₹2,562, to shareholders willing to tender their shares in the buyback

According to a company statement, L&T’s board will meet on 25 July to consider a buyback of shares and offering a special dividend on equity shares for fiscal year 2023-24.

The scope of the work comprises engineering, procurement, construction and installation for new offshore structures.

L&T Finance Group would predominantly become a retail finance company in the long term, gradually reducing the wholesale book from its existing portfolio, which is around ₹19,500 crore now, according to reports.

Despite global concerns, the domestic market structure remains positive on the back of healthy macro data, strong earnings, and recent FIIs buying investors are recommended to buy on dips as growth at reasonable valuations will continue to be the theme to generate returns in FY24.

Larsen & Toubro Q4FY23: The consolidated net profit for the fourth quarter of FY23 for Larsen & Toubro increased by 10% to ₹3,987 crore from ₹3,621 crore in the corresponding quarter of FY22. However, the company's operational margins shrank.

Larsen & Toubro Ltd.’s engineering services arm is ramping up investments in self-driving and electric vehicle technologies, betting on India’s appeal as a source of expertise for global manufacturers looking to expand in the field.