L&T News

Just before the expiry of the June series contract, bulls were seen in a segment of the market which has been long ignored by them — IT stocks. Because the upward movement was taking place at the end of expiry, one could not rule out the element of short covering. If one looks a bit deeper in the trend in IT stocks, two things have become clear. That while the news and opinion has been negative, the price action has not been so bad as has been painted. Now let's look at what happened in the IT sector and why there could be a case for contrarian buying. Yes, the sector has some headwinds which not many had thought would appear two years back. But the bigger question is whether this phase of underperformance is about to get over or not. It might be time to shed the bias of negativity around large IT players.

The stock traded at a P/E multiple of 34.82, while the price-to-book value ratio stood at 7.3.

L&T Wins (Significant*) Offshore Order from ONGC

The stock traded at a P/E multiple of 93.08, while the price-to-book value ratio stood at 13.63.

Delhi Airport's T1 roof collapse: Larsen & Toubro (L&T) clarified they didn't build or maintain the collapsed structure, which was constructed by another company in 2009. L&T's involvement with T1 was solely through a 2019 expansion project, unaffected by the collapse, the construction giant said.

Intimation to Stock Exchanges regarding publication of IEPF Notice in Newspapers

A total of 15,274 shares changed hands on the counter till 01:55PM (IST).

EPL Ltd. key Products/Revenue Segments include Laminated Tubes, Service Charges, Royalty Income, Scrap and Export Incentives for the year ending 31-Mar-2023.

A total of 10,980 shares changed hands on the counter till 11:47AM (IST)

A total of 41,570 shares changed hands on the counter till 01:39PM (IST)

TTK Prestige Ltd. key Products/Revenue Segments include Domestic Appliances and Scrap for the year ending 31-Mar-2023.

NLC India Ltd., incorporated in the year 1956, is a Mid Cap company (having a market cap of Rs 33528.87 Crore) operating in Power sector.

LTI Mindtree, an IT services company, is not focusing on succession planning as its current CEO, Debashis Chatterjee, will continue until December 2025. Larsen & Toubro (L&T) Group chairman AM Naik, who is also the non-executive chairman of LTIMindtree and L&T Technology Services, stated that the company has all its people, including a CEO, president of sales, and COO.

The flagship engineering, procurement and construction business is grappling with a labour shortage of 25,000-30,000 labourers, while the information technology and IT-enabled services business is facing a shortage of 20,000 engineers, he told reporters here.

​ITC and Bharti Airtel’s weights in Nifty is expected to go up in the quarterly rejig which gets into effect on Thursday, triggering combined inflows of $95 million according to estimates by Nuvama.

The stock quoted a 52-week high price of Rs 586.35 and a 52-week low of Rs 420.85.

The stock traded at a P/E multiple of 33.29, while the price-to-book value ratio stood at 7.3.

​NSE’s index services subsidiary NSE Indices has launched 'Nifty Top 10 Equal Weight' index, which aims to track the performance of top 10 companies selected from the Nifty 50 based on free-float market capitalisation. All stocks in the index are equally weighted, an NSE release of Monday, said.

The stock quoted a 52-week high price of Rs 6442.65 and a 52-week low of Rs 4518.35.

A total of 45,647 shares changed hands on the counter till 10:15AM (IST).

Of the last seven trading sessions, in three trading sessions, nifty which opened with a gap or came under pressure after opening has been able to recover and ended the day in positive territory. It is a kind of rotational support coming in from different stocks and sectors. There are banks one day and then they take a back seat and industrials come to support. Is the distribution taking place or is it a kind of consolidation which is taking place and a strong directional move would emerge after the budget that needs to be seen. But in all the cases there is greater chances that it is large cap stocks which will remain in limelight. ET screener powered by Refinitiv’s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy". The screener applies different algorithms for all BSE and NSE stocks.

Intimation of closure of trading window

A total of 66,063 shares changed hands on the counter till 01:33PM (IST)

Infrastructure major Larsen and Toubro (L&T) has won a substantial contract to construct a grid-connected solar plant with a battery energy storage system in Bihar, valued between Rs 1,000 crore and Rs 2,500 crore. The project in Kajra village, Lakhisarai district, will assist Bihar in utilizing renewable energy and overcoming climate change challenges.

Infrastructure major Larsen and Toubro (L&T) has won a substantial contract to construct a grid-connected solar plant with a battery energy storage system in Bihar, valued between Rs 1,000 crore and Rs 2,500 crore. The project in Kajra village, Lakhisarai district, will assist Bihar in utilizing renewable energy and overcoming climate change challenges.

L&T Pushes Green agenda, wins (Significant*) order to build Solar cum Energy Storage plant

JK Lakshmi Cement Ltd., incorporated in the year 1938, is a Mid Cap company (having a market cap of Rs 9771.32 Crore) operating in Cement sector.

Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI LODR)

Submission of information regarding loss of share certificates

Indian equity indices, influenced by global trends, closed lower on Friday. The Sensex fell 269 points to 77,209, and the Nifty dropped 66 points to 23,501, impacted by Reliance Industries, L&T, and HDFC Bank.

On the technical charts, the RSI of the stock stood at 68.03.

Morgan Stanley expects a 15.3% CAGR in India's infrastructure investments, leading to $1.45 trillion spending over 5 years. They highlight the impact of PM Gati Shakti on project execution and efficiency improvements.

A total of 16,118 shares changed hands on the counter till time (IST).

Promoters held 68.6 per cent stake in the company as of 31-Mar-2024, while FII and DII ownership stood at 7.86 per cent and 6.22 per cent, respectively.

A total of 47,187 shares changed hands on the counter till 12:32PM (IST)

The company did not disclose the order value. However, according to its project classification, significant orders value in the range of Rs 1,000 crore to Rs 2,500 crore.

L&T Construction Wins (Significant*) Orders for Buildings & Factories Business

A total of 7,337 shares changed hands on the counter till 10:30AM (IST).

The stock quoted a 52-week high price of Rs 586.35 and a 52-week low of Rs 420.85.

Domestic brokerage firm Prabhudas Lilladher said that it values Nifty at 5% premium to 15-year average PE 20.2x to arrive at bull case target of 27,102 as it showed conviction on large cap firms like ITC, RIL, HDFC Bank among others.