Larsen And Toubro

Saturday, Apr 20, 2024 | Last Update : 03:26 AM IST

Union Finance Minister Nirmala Sitharaman. (PTI)

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The DAC also accorded approval of procurement of air defence guns and ammunition for the Indian Army at an approximate cost of Rs 6,000 crores under the Buy and Make (Indian) category. (PTI file)

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05 Jun 2021 9:18 AM

The company's stock dropped 8.07 per cent to close at Rs 691.30 on the BSE.

Mindtree shares plunge 8 per cent on disappointing Q1 results

In terms of traded volume, 7.32 lakh shares of the company were traded on the BSE during the day.

18 Jul 2019 5:26 PM

While the founders continue to hold onto their about 13 per cent stake, on July 5, CEO Rostow Ravanan, Chairman Krishnakumar Natarajan and Vice Chairman Parthasarathy NS announced their exit from Mindtree Board and the management.

Mindtree board appoints L&T chief A M Naik as non-executive chairman

The move follows the construction major acquiring over 60 per cent stake in the Bengaluru-based IT company.

18 Jul 2019 11:18 AM

Capital appreciation and attractive rental yields are driving demand in the commercial real estate market, which has been seeing increasing interest from foreign companies and private equity firms.

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The upsurge of India’s commercial office market began in 2017 and has been further boosted by the arrival of REITs.

10 Jul 2019 2:45 AM

The MindTree scrip tanked 12 per cent to Rs 760 on the BSE.

MindTree shares tumble 14.6 pc after chairman, CEO quit

The founders had vehemently opposed L&T bid, terming it hostile and as a grave threat and value destructive to shareholders.

08 Jul 2019 1:11 PM

Construction major L&T held 9.87 crore equity shares in Mindtree as on July 2 following its recently-concluded open offer, according to the filing by Mindtree.

Mindtree says L&T categorised as promoter with 60.06 pc stake

The development is significant as the Mindtree founders had initially resisted the hostile takeover bid.

03 Jul 2019 8:32 PM

The committee has also approved the appointment of Prasanna Rangacharya and Deepa Gopalan Wadhwa as independent directors, the filing said.

L&T to get three Board positions in Mindtree

IT firm Mindtree on Thursday said L&T CEO and MD SN Subrahmanyan will join its Board as Non-Executive Director with effect from July 16.

20 Jun 2019 6:46 PM

On June 7, the infrastructure major Larsen & Toubro announced a Rs 5,030-crore open offer to acquire an additional 31 per cent stake in mid-tier IT company Mindtree at a price of Rs 980 per share.

Mindtree independent directors say L&T's offer price at Rs 980/share is reasonable

Mindtree shares closed at Rs 975.50 a piece on NSE and Rs 974.65 a share on BSE.

12 Jun 2019 12:22 PM

L&T Infotech notched up a net profit of Rs 1,515 crore on a total revenue of Rs 9,748 crore in 2018-19.

L&T makes Mindtree open offer

The open offer is for 5.13 crore shares, or 31 per cent stake, of Mindtree at Rs 980 per share, according to a regulatory filing.

08 Jun 2019 1:40 AM

L&T mopped up about 32.25 lakh shares during the said week.

L&T picks up Mindtree shares worth Rs 316 cr between May 20-24

The infrastructure major is eyeing up to 66 per cent stake in Mindtree for around Rs 10,800 crore.

26 May 2019 10:37 AM

In all, L&T is eyeing up to 66 per cent stake in Mindtree for around Rs 10,800 crore.

L&T acquires 1,168 shares of Mindtree

Shares of Mindtree ended at Rs 974.25 apiece on the BSE on Tuesday, 0.13 per cent lower than the previous closing.

14 May 2019 6:47 PM

"This is to inform you that, Larsen and Toubro Ltd has acquired 33,05,775 equity shares (with face value of Rs 10 each) of Mindtree Ltd, since its last disclosure...made on May 8, 2019," L&T said in a filing.

L&T acquires additional 2 pc stake in Mindtree; takes total holding to 26 pc

L&T had earlier purchased around 20 pc stake of V G Siddhartha and Cafe Coffee Day in Mindtree through a block deal.

10 May 2019 9:31 AM

Last month, L&T had acquired Cafe Coffee Day owner VG Siddhartha's 20.32 per cent stake in Mindtree, and placed an order with brokers to pick up another 15 per cent shares from the open market.

Mindtree's special dividend could strip firm of Rs 320 cr ahead of L&T takeover

Asked if Mindtree anticipated any objection from L&T on its latest move, Ravanan said: 'I have absolutely no idea.'

17 Apr 2019 7:26 PM

In a tweet, the Competiton Commission of India (CCI) said, "it approves the acquisition of up to 66.15 per cent of the total equity shareholding of Mindtree Ltd, on a fully diluted basis, by Larsen and Toubro Ltd".

CCI approves L&T's proposed acquisition of 66.15% stake in Mindtree

Deals beyond a certain threshold require clearance from the fair trade regulator CCI.

06 Apr 2019 10:06 AM

Mounting the country's first hostile takeover bid in the IT sector, infrastructure giant Larsen and Toubro on Monday made an offer to buy up to 66 per cent stake in the Mindtree for around Rs 10,800 crore.

Mindtree promoters vow to oppose hostile takeover bid by L&T

Dub the takeover bid as a grave threat to the organisation.

19 Mar 2019 11:45 AM

The filing said the Audit Committee was also briefed on the management-initiated investigation conducted by leading law firms in the US and India.

L&T says audit panel to seek external expert's help on alleged Cognizant bribery case

Reports alleged that L&T was the contractor involved in the matter.

01 Mar 2019 11:34 AM

PM Modi inaugurated the howitzer gun-manufacturing unit of Larsen & Toubro at Hazira, Surat. (Photo:File)

PM Modi inaugurates India's 1st private sector howitzer gun-making unit

Prime minister Narendra Modi inaugurated the howitzer gun-manufacturing unit of Larsen & Toubro.

19 Jan 2019 2:43 PM

To reach the other colony, L&T residents have to cross the road, which creates traffic snarls on road as well as JVLR Square.

L&T to connect Powai colonies with road tunnel?

According to civic officials, two colonies belong to L&T at Tungwe village in Powai.

24 Jul 2018 2:32 AM

Tata Steel offered Rs 35,200 crore in cash to acquire Bhushan Steel. It would pay another Rs 1,200 crore over next 12 months to creditors and convert the remaining debt owed to banks to equity.

NCLAT asks Tata Steel if it will pay dues of Bhushan Steel

Bhushan Steel owed its lenders about Rs 56,000 crore and was among the 12 big loan defaulters identified by the Reserve Bank of India.

30 May 2018 1:58 PM

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Shobhaa De