Engineering Sector

L&T jumps 3% on better-than-expected Q3 margins

L&T jumps 3% on better-than-expected Q3 margins

Stock in engineering giant Larsen & Toubro (L&T) gained nearly 3 per cent in early morning trade on Thursday, after the company reported higher-than-expected margins for the October-December quarter.

The largest engineering group of India reported an impressive year-on-year jump of 190 basis points in its ebitda margins, while adjusted margins climbed 160 basis points, thanks to higher revenues from the infrastructure segment.

L&T Bags Contract Worth Rs 1,400 crore in Abu Dhabi

L&T Bags Contract Worth Rs 1,400 crore in Abu Dhabi

Larsen and Toubro, an engineering major, has revealed that it has bagged a contract worth 943.11 million UAE dirham (nearly 1,400 crore) to develop a midfield complex at the Abu Dhabi International Airport. Abu Dhabi Airport Company has awarded the contract to L&T.

The contract is the part of company's plan to expand the Abu Dhabi international Airport. L&T will be building the hard stands of aircraft parking around the new midfield terminal building. It also includes contact and remote stands.

L&T Bags Orders worth over 2,000 crores

L&T Bags Orders worth over 2,000 crores

In a recent report, it has been revealed that engineering and construction company Larsen and Toubro Ltd (L&T) has successfully secured orders of a great value.

The company announced on Thursday that new orders worth Rs. 2,080 crore had been secured by it across different business segments in the months of February and March.

A2Z IPO price band at Rs. 400-410

A2Z IPO price band at Rs. 400-410

The IPO of A2Z that is going to close on December 10 is going to see a price band of Rs. 400-410.

The engineering, procurement and construction firm had declared that it will enter the capital market from December 8. It will comprise of fresh issue of equity shares of Rs. 10 each. Keeping that in mind the total proceeds are going to be Rs. 6,760 million.

Besides this, an offer of sale of 4556,193 equity shares of Rs. 10 each during the issue is going to be made to the shareholders. Employees are going to be given shares at a discount of 5 per cent.

L&T net profit surges 44%

L&T net profit surges 44%

Engineering conglomerate Larsen & Toubro Ltd has declared its fourth quarter financial results for the fiscal year 2009-10 and has managed to register an impressive net profit. The company has posted a net profit of 14.38 billion rupees ($315 million) for the quarter that ended in 31st March, 2010.

It was reported to be 9.99 billion rupees for the fourth quarter last year. This net profit figure has grown up by 44% in the quarter under review as compared to the same quarter in the preceding year.

Patel Engg Anticipates 30 bln rupees Orders in Q1

Patel Engg Anticipates 30 bln rupees Orders in Q1

Patel Engineering is reported to be tagged as the lowest bidder for irrigation and hydro-power projects worth Rs 3000 crore expected by the end of June, the first quarter of FY11, a top official revealed on Monday.

Patel Engineering Ltd, a construction company indulging in hydro-power generation and irrigation segment, has posted a 41.78% climb in consolidated net profit at Rs193.32 crore for the year ended March 31, 2010 from Rs 136.36 crore recorded the previous year ended March 31, 2009.

ABB agrees to buy Ventyx for more than $1 billion

ABB agrees to buy Ventyx for more than $1 billion

Raising hopes of the Swiss engineering giant’s first large takeover in more than a decade may trigger fresh merger and acquisition activity in the sector with ABB Ltd agreeing to buy software maker Ventyx from US private equity firm Vista Equity Partners for more than $1 billion in cash. Seeing orders decline more than 20 percent in the first quarter, the unit has been under pressure amid the economic downturn.

BMC facing staff shortages

BMC facing staff shortages

BMC's hydraulic engineering department is facing shortages as one forth of engineer posts & half of those in labour section are vacant. The department is in chaos and is unable to handle the workload with large number of pipe burst and other maintenance work.

Hindustan Dorr acquires UK based DavyMarkham

Hindustan Dorr acquires UK based DavyMarkhamHindustan Dorr-Oliver Ltd, an engineering solutions company has announced that it has acquired the UK based heavy engineering company DavyMarkham.

Hindustan Dorr-Oliver is part of the group IVRCL Infrastructures and Projects Ltd. It is involved in projects in the oil and gas, power and uranium sectors.

Alstom Projects secures order worth Rs 365 crore from Hindalco

Alstom Projects

Alstom Projects India, a majority owned subsidiary company of Alstom SA France - the global leader in power generation and rail infrastructure, has secured orders worth Rs 365 crore from Hindalco Industries, for supply and installation of four gas treatment plants in the country.