Discover eligible scholarships, including L&T, LIC, Build India, and Engineering, plus other opportunities, and explore the stipend and application process.
Larsen & Toubro (L&T) Construction has launched the Build India Scholarship (BIS) Scheme to attract and nurture young talent in civil and electrical engineering. The scheme aims to provide a two-year full-time M. Tech degree in Construction Technology & Management at one of its partner institutions, including IIT Madras, IIT Delhi, NIT Surathkal, and NIT Tiruchirapalli. The scholarship is open to final-year students pursuing BE/B.Tech in core civil/electrical engineering, with an expected graduation date of 2025.
To be eligible, applicants must have an academic aggregate of 70% or a CGPA of 7.0 (out of 10) and above. Additionally, they must be less than 23 years old as of July 1, 2025. The application process involves submitting an online application and required documents at lntecc.com by March 12, 2025. Shortlisted candidates will have to appear for a physical written test and interview, and those selected will receive sponsorship letters in May 2025.
Upon selection, students are required to sign an undertaking worth Rs. 5 lakhs, committing them to successfully completing the course and serving L&T for five years after graduation. The scholarship includes a monthly stipend of Rs. 13,400 for 24 months, sponsorship and tuition fees, and sponsorship letters for summer internships and final projects at L&T project sites. Upon completing the course, employment will be offered at L&T. Apply now and be part of L&T’s growth story!
WB Group and L&T Partner to Drive Autonomous Drone Innovation at Aero India 2025
Poland’s WB Group is expanding its presence in India’s defense sector through its Indian joint venture, WB India, with a new strategic agreement signed at Aero India 2025. The Memorandum of Understanding (MoU) with Larsen & Toubro (L&T) marks a significant milestone in WB India’s efforts to increase its footprint in India’s thriving defense-tech ecosystem. The partnership focuses on decentralized collaborative autonomy, an emerging technology that enables multiple drones to operate in harmony with minimal human intervention.
The collaboration aims to develop next-generation autonomous solutions tailored for India’s military reconnaissance, surveillance, and operational needs. WB India’s CEO, Ashish Sharma, praised the partnership, stating that it will deliver “tailored, indigenous systems that will significantly augment the capabilities of the Indian Armed Forces.”
India is heavily investing in drone technology as part of its defense modernization strategy, with the unmanned systems market projected to grow exponentially over the next decade. WB Group, a global industry leader in UAV solutions, has increased its engagement in India, aligning with the government’s Atmanirbhar Bharat initiative to boost indigenous defense production.
WB Group has already demonstrated its FlyEye reconnaissance drones in India, with growing interest from the Indian Army and other defense forces. The company is well-positioned to capitalize on India’s growing appetite for cutting-edge aerospace and defense innovations through strategic collaborations like this. The partnership with L&T will drive the development of advanced autonomous systems, reinforcing WB India’s commitment to building deep-rooted partnerships and advancing India’s defense technology landscape.
Larsen & Toubro has delivered the third steam generator to the Kaiga Nuclear Power Plant, a significant milestone in the project.
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Larsen & Toubro (L&T) has announced that it has successfully shipped the third steam generator to the Kaiga Nuclear Power Plant, a major milestone in the project. The steam generator is a critical component of the nuclear power plant, and its successful shipment marks a significant achievement for L&T’s engineering and construction business.
The Kaiga Nuclear Power Plant is a 700 MWe nuclear power plant being constructed by Larsen & Toubro in collaboration with the Nuclear Power Corporation of India Limited (NPCIL). The plant is under construction at Kaiga, in the state of Karnataka, India. The power plant is expected to generate 700 million units of electricity per year, enough to power about 650,000 households.
The third steam generator, which is a major construction milestone, was manufactured at L&T’s plant in Hyderabad, India. The company has expertise in designing and manufacturing steam generators, having successfully executed several projects in the past.
The Kaiga Nuclear Power Plant project is a significant project for L&T, showcasing the company’s capabilities in executing large-scale infrastructure projects. The project necessitates the construction of a nuclear power plant comprising four units, each equipped with steam turbines and generators. The project also involves the installation of reactor buildings, cooling systems, and other auxiliary systems.
L&T’s success in shipping the third steam generator is a testament to its engineering and construction expertise. The company has a strong track record of executing complex projects, having successfully handled several significant infrastructure projects in India and abroad. The L&T team has been working closely with the NPCIL to ensure timely completion of the project, which is expected to be operational by 2025.
The commissioning of the Kaiga Nuclear Power Plant will mark a significant milestone in India’s journey towards achieving self-sufficiency in power generation. The plant will also contribute to reducing the country’s carbon footprint by generating clean and reliable electricity. L&T’s successful execution of the project is a shining example of its commitment to delivering high-quality projects on time, safely, and within budget.
Whispers of joy for the billionaire Mukesh Ambani: Reliance takes the top spot on the list of companies with the highest…
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According to the Economic Survey, Indian companies have seen a significant increase in their cash reserves over the past two years, with a 35% surge. As of September 2024, the cash and cash equivalents (CCE) balance of Nifty 500 companies stood at Rs 14.3 lakh crore, up from Rs 10.6 lakh crore in September 2022. This increase is attributed to companies making substantial profits but being reluctant to increase employee salaries.
Reliance Industries, led by Mukesh Ambani, tops the list of companies with the highest cash balance, holding 15% of the total cash reserves of Nifty 500 companies. As of September 2024, Reliance had cash and cash equivalents worth ₹2.15 lakh crore. Other companies in the top 10 include Larsen & Toubro, Tata Motors, TCS, Wipro, ONGC, InterGlobe Aviation, Mahindra & Mahindra, Infosys, and Hindustan Aeronautics.
Experts suggest that Indian companies benefited from cost optimization after the COVID-19 pandemic, which led to an increase in their cash reserves. Additionally, these companies did not invest heavily in capacity expansion, allowing them to accumulate more cash. Typically, these funds are utilized for working capital, capital expenditure (CapEx), and debt repayment.
Interestingly, none of the companies from India’s third-largest industrial conglomerate, the Adani Group, made it to the list. However, companies like Indigo’s parent company InterGlobe Aviation, Reliance, and Hindustan Aeronautics have seen the highest surge in cash reserves over the past two years. The report highlights the significant growth in cash reserves of Indian companies, which could have implications for the economy and employee salaries.
L&T Celebrates a Major Achievement with Swift Completion of Third Steam Generator Delivery
Larsen & Toubro’s (L&T) Heavy Engineering division has achieved a significant milestone by delivering the third Steam Generator (SG) for the 10 x 700 Megawatt-electric (MWe) Pressurised Heavy Water Reactor (PHWR) fleet program ahead of schedule. The SG was dispatched from L&T’s A M Naik Heavy Engineering Complex at Hazira, Gujarat, to the Karnataka-based Kaiga Atomic Power Station (KAIGA) Units 5 & 6. This achievement is a testament to L&T’s commitment to delivering high-quality products on time and meeting the Department of Atomic Energy’s (DAE) target to install 22 GWe nuclear power by 2032 and India’s vision of 100 GWe by 2047.
L&T has been a long-standing partner of the Nuclear Power Corporation of India Limited (NPCIL) and the DAE, with a six-decade association. The company is committed to contributing to India’s nuclear power capacity, aligning with Prime Minister Narendra Modi’s vision for an Aatmanirbhar Bharat. The delivery of the third SG demonstrates L&T’s capability to produce critical equipment with world-class quality and speed.
The A M Naik Heavy Engineering Manufacturing Complex at Hazira is globally benchmarked, fully integrated, and digitally enabled, enabling the production of high-quality products. L&T aims to deliver 6-8 nos 700 MWe Steam Generators every year and is also committed to the success of the 220 MWe Bharat Small Reactor (BSR) program, which aims to achieve net-zero carbon emissions by 2070. The company’s success is a result of the hard work and dedication of its team, as well as that of its partners, NPCIL and the DAE.
Musk’s endorsement of 120-hour work weeks prompts L&T’s chairman and Narayana Murthy to weigh in
Elon Musk, the CEO of the Department of Government Efficiency (DOGE), has sparked a controversy by stating that officials at DOGE work 120 hours a week, which is equivalent to working 17 hours a day, 7 days a week or 24 hours a day, 5 days a week, without any rest. Musk made the statement on his platform X (formerly Twitter) in response to a post thanking DOGE for ending years of mismanagement of public funds. He compared this to what he called the “bureaucratic opponents” who work only 40 hours a week and are therefore losing.
Some people have supported Musk’s statement, while others have criticized him for pushing employees to work such long hours. Many have expressed concerns that such long working hours can lead to burnout, mistakes, and low morale. Others have questioned the legality of such working hours, as it is illegal to work unauthorized overtime in many countries. Some have also highlighted the problems in the tech industry, where overworking is common and low wages are often accompanied by lack of job security and rights.
Musk’s statement has sparked a wider conversation about the need for balance between work and personal life, and the importance of protecting workers’ rights. As the debate continues, it will be interesting to see how this develops and what actions will be taken to address the concerns raised.
A fresh setback for L&T: The company loses out on a massive ₹70,000 crore submarine deal, following controversy over CEO’s 90-hour workweek claim.
Larsen & Toubro (L&T), a multinational conglomerate, has suffered a significant setback after the Ministry of Defence rejected its bid to build six submarines for the Indian Navy. The rejection comes after L&T’s CEO, SN Subrahmanyan, sparked controversy by encouraging employees to work even on Sundays, sparking backlash and criticism. The company had partnered with Spanish state-owned shipbuilding company Navantia to submit a proposal for the Project 75 India, which aimed to build and deliver six advanced submarines to the Indian Navy.
However, the tender was rejected due to L&T’s non-compliance with the Indian Navy’s requirement for a sea-proven system, as stated in the tender specifications. L&T and Navantia had demonstrated their Air Independent Propulsion (AIP) system to the Indian Navy in Spain, but this was a shore-based demonstration, whereas the Indian Navy required a system that had already been proven at sea.
As a result, L&T has lost a massive Rs 70,000 crore, and the state-owned Mazagaon Dock Shipbuilders Limited (MDL) and its partner, Germany’s ThyssenKrupp Marine Systems, are now the only remaining contenders for the contract. This development is a significant blow to L&T, which had been eyeing the contract to build the six submarines. The company’s controversial CEO comment had already sparked criticism, and this latest setback is likely to further dent its reputation.
The L&T investigation reveals that design flaws in the piers at Medigadda are primarily responsible for the sinking phenomenon.
Representatives from L&T, the company responsible for constructing the Medigadda barrage, appeared before the Justice PC Ghose Commission of Inquiry to explain the design flaws and quality issues that led to the sinking of piers in block 7 of the barrage. The L&T team, including project director MV Ramakrishna Raju, vice-chairman Suresh, and representative Rajnish Kumar, were cross-examined by the commission on Friday.
According to L&T, the design issues, particularly the shooting velocities, were the primary cause of the piers’ sinking. They alleged that the design flaws led to damage to the cement concrete blocks and the wearing coat. The company claimed that they had informed the irrigation department of the issues three years ago, but despite their warnings, the department failed to take corrective action.
The L&T representatives further stated that the barrage was filled with water year-round since its inauguration in June 2019, which they believe contributed to the piers’ sinking. They expressed disappointment that the government did not act promptly on their warnings, and if they had, the major problem of sinking piers could have been avoided.
When asked about the repairs needed to fix the barrage, the L&T team was unable to provide a clear answer. They also clarified that they did not receive any additional payments for the coffer dam or subcontract any work, and that the completion certificate was issued only after the work was completed and the defect liability period had expired. However, the state government has recently cancelled the completion certificate, citing that it was granted despite pending works, and has initiated action against officials involved in issuing the certificate.
The L&T representatives’ testimony suggests that the design flaws and quality issues with the barrage were the primary causes of the problems, rather than any systemic failures or defects in the construction process. However, the state government’s decision to cancel the completion certificate and initiate action against officials involved in issuing it suggests that the issue is more complex and potentially more far-reaching.
Financial Forecasts, Earnings Outcomes, and Revenue Predictions
Paytm, a leading digital payments company, is expected to report a loss of Rs 332 crore and revenue of Rs 1,900 crore for the quarter ended December, according to consensus estimates of analysts tracked by Bloomberg. This would mark a significant decline in earnings before interest, taxes, depreciation, and amortization (Ebitda) by Rs 242.6 crore and a fall in margin by 12.80%. In contrast, Oberoi Realty, a real estate developer, is expected to report a net profit of Rs 744 crore and revenue of Rs 1,621 crore for the same quarter, with an Ebitda of Rs 393.4 crore and a margin of 58%.
These estimates are based on Bloomberg analysts’ consensus forecasts and are subject to change. The full list of companies reporting their third-quarter results on Friday includes a diverse range of industries, including technology, finance, real estate, and consumer goods. Some of the notable companies reporting results include Zomato, a food delivery and restaurant discovery platform, and L&T Finance, a financial services company.
The results are expected to provide insights into the performance of these companies during the quarter, including their revenue growth, profitability, and operational efficiency. The reports will also give investors and analysts a better understanding of the companies’ prospects and challenges in the current market environment.
Puducherry MP N Srinivasa Chidambaram endorses K V Rama Murthy, L&T’s top executive, saying ‘those who have worked 12-hour days themselves can advise on the need for Indians to do the same’.
Former Finance Minister P Chidambaram has come out in support of Infosys co-founder Narayana Murthy and L&T Chairperson SN Subrahmanyan, who recently sparked controversy by advocating for longer work hours in India. Murthy suggested that young Indians should work 70 hours a week, while Subrahmanyan proposed a 90-hour work week for his employees. Chidambaram argued that their statements reflect a broader perspective aimed at enhancing productivity in a developing country.
Chidambaram noted that the reactions to their comments may have overlooked the context and that their remarks were not intended for workers performing repetitive tasks, but rather aimed at inspiring young Indians to embrace hard work and build a prosperous nation. He also highlighted that the eight-hour workday, first legislated in Germany in 1918, may not uniformly apply to all professions. For example, farmers and professionals such as doctors, lawyers, and scientists often work beyond traditional hours.
The former finance minister also touched on the potential impact of technological advancements on work norms, suggesting that automation, robotics, and AI could lead to shorter working hours without sacrificing productivity. He personally enjoys long working hours, stating that work-life balance is a personal discovery for each individual. Chidambaram believes that Murthy and Subrahmanyan were advocating for a cultural shift, urging the aspirational young generation to understand that long hours of productive work can make a developing country truly rich and improve the lives of millions of people.
Ultimately, Chidambaram argues that their comments may have had an unintended effect of provoking people to think and reassess their approach to work and productivity, which could ultimately lead to a more balanced view of work and life. While their remarks have sparked a heated debate, Chidambaram believes that their words may not be controversial after all, but rather a valuable contribution to the national conversation on productivity and work ethic.
Single-handedly tarnishing the reputation of L&T’s leadership: A retiree’s derailed dreams spark a social media sensation.
A couple, Ajay Tomar and his wife Sunita Tomar, have gained popularity on social media after posting a video showcasing their unique post-retirement plan. The couple, who run an Instagram page called Ghoomna Firnaa, have transformed their 5-seater car into a caravan-like vehicle and are traveling around South India, sleeping in the car and cooking food on the road. The video, which has gone viral, shows the couple exploring local families and making new friends.
The post has attracted negative comments from some users, who sarcastically said that the couple’s plan is ruining the reputation of L&T Chairman SN Subrahmanyan, who recently called for a 90-hour workweek. Another user referenced a comment by Infosys co-founder Nadella, who said that youngsters need to work 70 hours a week. However, many others have praised the couple’s sense of adventure and appreciation for their carefree lifestyle. The Tomars aim to take an international trip before they turn 70.
In the midst of a heated debate about L&T’s 90-hour weekly workweek, a remark from Shah Rukh Khan’s past – rest is a sin – has resurfaced and is now trending on social media.
A 2022 statement by Shah Rukh Khan has gone viral, where he stressed that “rest is a sin” and that one must be “restless” to be successful. He emphasized the importance of being dedicated and relentless, pointing out that relaxation only benefits those who don’t strive for success. This comment has been re-surfaced amidst the controversy sparked by Larsen & Toubro chairman, SN Subrahmanyan, advocating for a 90-hour workweek. Subrahmanyan’s views echo those of Infosys co-founder Narayan Murthy, who supports a 70-hour workweek. However, industry leaders are divided on the matter. Anand Mahindra, Mahindra Group chairman, believes that work output is more important than the number of hours worked. On the other hand, Harsh Goenka, RPG Enterprises chairman, and Rajiv Bajaj, Bajaj Auto MD, emphasize the importance of work-life balance and the need to prioritize quality over quantity. Radhika Gupta, CEO of Edelweiss Mutual Fund, agrees that hard work and ambition are personal choices and not a requirement for everyone. The debate continues, with no consensus on the optimal number of working hours.
Love is not just about staring, it’s about sharing life’s moments with your partner, says Anand Mahindra.
Mahindra Group Chairman Anand Mahindra responded to the debate on a 90-hour work week, sparked by Larsen & Toubro Chairman S.N. Subrahmanyan’s comments. Mahindra emphasized the importance of focusing on the quality of work, rather than the quantity. He stated that one can change the world in 10 hours, and that it’s not about the number of hours worked, but rather the output. He also stressed the need for leaders to make wise decisions, be exposed to holistic thinking, and have a broad range of knowledge and experiences.
Mahindra highlighted the importance of spending time with family and friends, and not just focusing on work. He used the example of his company, M&M, and how they need to understand what customers want, which requires time outside of the office. He also responded to criticisms of his use of social media, stating that it’s a valuable business tool and allows him to connect with millions of people.
Mahindra’s comments contrast with those of other business leaders, such as Infosys co-founder Narayana Murthy and Ola founder Bhavish Aggarwal, who have suggested that youngsters should be prepared to work long hours. Mahindra’s approach emphasizes the importance of work-life balance and suggests that the key to success is not just working long hours, but also focusing on the quality of work and making wise decisions.
Adar Poonawalla remarks that even he himself, whose busy schedule leaves his wife no spare time.
Adar Poonawalla, CEO of Serum Institute of India, agrees with Anand Mahindra, Chairman of Mahindra Group, on the importance of work-life balance. Poonawalla posted on X (formerly Twitter) that his wife loves staring at him on Sundays, echoing Mahindra’s statement that work-life balance is essential. This comes after Larsen & Toubro (L&T) Chairman SN Subrahmanyan suggested that people should work for 90 hours a week, including Sundays, sparking a national backlash. Many industrialists, Bollywood stars, and politicians have reacted to his statement, criticizing the idea of sacrificing personal time for work.
RPG Group Chairman Harsh Goenka and Bajaj Auto’s Rajiv Bajaj, among others, have emphasized the importance of work-life balance and warned against burnout. Actress Deepika Padukone shared Subrahmanyan’s remark, saying it was “shocking” to see such comments from senior officials. TMC MP Mahua Moitra sarcastically urged Subrahmanyan to “get a life,” citing Denmark’s work-life balance and GDP/capita statistics. L&T later issued an official statement saying that nation-building is at the core of their mandate and that Subrahmanyan’s remarks reflect this.
One miracle a week: I’m lucky I get to stare at my wife for 90 hours!
Anand Mahindra, Chairman of the Mahindra Group, responded to Larsons & Tibbets chief SN Subrahmanyan, who advocated for a 90-hour workweek, saying his employees should stop staring at their wives and stay at the office more. The remark sparked outrage, with criticisms of work-life balance and even mental health emerging. Mahindra, witty and tongue-in-cheek, responded by expressing his love and admiration for his wife, rejecting the idea of quantity over quality of work and emphasizing the business benefits of managing his social media presence. Contrasting his leadership style with the L&T executive’s, he said he has 11 million followers on Xia and values high-quality work life.
The top-earning CEOs in India: L&T, Hero MotoCorp, and Poonawala Enterprises make headlines in the world of Lifestyle News.
Top Indian CEOs and executives received impressive remuneration packages as of March 2024, reflecting their significant contributions to the success of their companies. According to recent data, here are the top 10 highest-paid Indian CEOs:
1. Abhay Bhutada of Poonawalla Fincorp – Rs 241.21 crore
2. Pawan Munjal of Hero MotoCorp – Rs 109.41 crore
3. Sudhir Singh of Coforge – Rs 105.12 crore
4. Vinay Prakash of Adani Enterprises – Rs 89.37 crore
5. Kalanithi Maran and Kavery Kalanithi of Sun TV Network – Rs 87.5 crore each
6. Naveen Jindal of Jindal Steel & Power – Rs 84.995 crore
7. Arnob Roy of Tejas Networks – Rs 76.82 crore
8. Sandeep Kalra of Persistent Systems – Rs 76.59 crore
9. Sajjan Jindal of JSW Steel – Rs 73.39 crore
10. Salil S. Parekh of Infosys – Rs 66.25 crore
These executive’s remuneration packages were high due to their leadership roles in driving profitability, expansion, and growth of their respective companies across various sectors such as finance, IT, steel, and more.
Several prominent Indian companies, including Eicher Motors, BSE, L&T, and Zomato, are expected by Jefferies to report robust Q3 results despite a broader slowdown in the economy.
Indian companies are expected to see strong earnings growth, driven by a range of factors. Two-wheeler makers Eicher Motors and TVS Motor Co. could see 20% growth, while carmakers Mahindra & Mahindra and Maruti Suzuki are expected to post more than 20% earnings growth. Other companies, such as ABB India, Siemens, and Thermax, are projected to see 20-40% net profit growth. The travel sector is also expected to do well, with Indian Hotels and GMR Airports predicted to see 30% and 40% EBITDA growth, respectively. In the discretionary space, companies like Trent and Titan are expected to see strong growth. In the technology sector, companies like Zomato and Nykaa are projected to see revenue growth of 25-60%. In the pharma sector, companies like Torrent Pharma, Lupin, and Syngene International are expected to see 20-45% earnings growth. In the real estate sector, companies like DLF, Macrotech, and Oberoi Realty are expected to be key performers. Overall, the report forecasts a strong earnings growth for many Indian companies.
L&T Chairman Narayanan Murthy’s own 70-hour work week sets an example, as he tells employees: ‘I regret we couldn’t make Sundays a workday for you’.
Larsen & Toubro’s (L&T) Chairman SN Subrahmanyan has expressed regret for not being able to make employees work on Sundays, suggesting a 90-hour workweek to remain globally competitive. His comments have sparked a heated debate on work-life balance and employee well-being. Subrahmanyan’s remarks echo those of Infosys co-founder NR Narayana Murthy, who recently called for a 70-hour workweek. The comments have drawn criticism on social media, with users expressing concern for employees’ mental health and work-life balance, citing the risks of burnout and decreased productivity. Some critics have also pointed out that excessive work hours can negatively impact personal relationships and contribute to a lack of fulfillment. The backlash has been severe, with many users labeling Subrahmanyan and other business leaders as “leaders in baby diapers” and expressing frustration with the focus on profit over employee well-being. The debate highlights the need for a balance between work and personal life, and for leaders to prioritize employee well-being.
After Narayana Murthy’s lead, L&T chairman asks employees to sacrifice Sundays for 90-hour work week.
L&T Chairman SN Subrahmanyam has made a controversial comment suggesting that employees should work 90 hours a week. He made this statement during a town hall meeting in response to a question about why employees are still expected to work on Saturdays. He expressed regret that he couldn’t make them work on Sundays as well, and cited the example of China where people allegedly work 90 hours a week. He also made some off-color comments about what people do at home, such as “staring at their wives”. Social media users were quick to condemn his remarks, comparing him to Infosys co-founder Narayana Murthy, who also advocated for long work hours. Many users called out the L&T chairman’s lack of understanding of the work-life balance and the country’s labor laws, with some jokingly asking if they were expected to “stare at someone else’s wife”. The incident has sparked a heated online debate about the work culture and expectations in India.
‘Slim chance of sight’: L&T chairman’s expectation for employees to work on Sundays doesn’t sit well.
The Chairman of Larsen & Toubro (L&T), AM Naik, has sparked controversy by suggesting that employees should be willing to work on Sundays as well. During a meeting with employees, Naik asked them “How long can you stare at your wife?” implying that spending too much time with family can be counterproductive to career advancement. His comment has been met with outrage and criticism, with many accusing him of being insensitive and lacking empathy. Naik’s suggestion is seen as an attempt to push employees to work longer hours and sacrifice their personal lives. Many have pointed out that having a work-life balance is essential for employee well-being and productivity. The statement has also been criticized for being tone-deaf and out of touch with modern values. Naik’s comments have sparked a national debate in India, with many calling for a re-examination of work culture and employee rights.
L&T Metro Rail requires the Telangana Government’s backing to acquire new train sets, enabling an increase in daily services from 1,075 trips.
L&T Metro Rail Hyderabad (L&TMRH) is planning to increase daily services by adding new train sets. Currently, they operate 1,075 trips per day, but aim to increase this number. The CEO, KVB Reddy, has stated that they have identified three indigenous manufacturing firms to produce 10 new three-coach train sets, but require government support due to financial constraints. The new trains are expected to take around 15-18 months to produce once the purchase order is finalized. In the meantime, efforts are being made to increase short loop line trips to cater to rush hour traffic. The CEO has also encouraged passengers to move away from doors to allow more people to board, which could increase ridership from 5 lakh to 7 lakh. The current ridership is estimated to be 10% below peak capacity. Additionally, the MGBS interchange station will be developed into a cultural hub, with space for arts and cultural events.
L&T Partners with The Kersheh Group to Enhance its Sleepwear Offerings
The new owner of Lord & Taylor, Regal Brands Global, is committed to expanding the brand’s product line. The company has partnered with The Kersheh Group to become the exclusive licensee for Lord & Taylor’s sleepwear, loungewear, and underwear in the US for men, women, and children. The Kersheh Group is a vertically integrated company with over 40 years of experience in the apparel sector. The new Lord & Taylor site is expected to go live this year, with the brand still onboarding vendors for various categories. The company is also planning to launch a dedicated tab on its website for Gen Z shoppers, featuring edgier styles at affordable prices.
Lord & Taylor’s roots date back to 1826, and the company has changed ownership several times. The brand was sold to Saadia Group in 2020, but Saadia eventually defaulted on a loan and lost control of the IP. Regal Brands Global acquired the IP in September and is now working to revamp the brand. The company is committed to exceptional customer service and quality, and plans to expand its product offerings and reach new markets.
Insys has pushed back its annual salary increases to the fourth quarter of fiscal year 2025.
Infosys, India’s second-largest IT services firm, has delayed annual wage hikes to the fourth quarter of the current financial year. This decision reflects the uncertainty in the global demand environment, particularly for discretionary IT services. Rivals HCLTech, LTIMindtree, and L&T Tech Services have also skipped salary increments to manage costs and sustain profitability. The company had announced plans to implement wage hikes in Q4 in a phased manner, with some part effective in January and the balance in April. Despite the delay, margins improved by 10 basis points in the second quarter due to lower onsite costs, improved utilisation rates, and better operational efficiencies. Analysts believe that the withholding of hikes is unlikely to lead to resignations due to a stagnant job market. Certain delivery teams within large enterprises may still offer salary hikes to top performers, as each unit has a budget to reward exceptional talent.
Retail loan book surges 23% to reach a record high of Rs 92,200 crore.
L&T Finance Ltd, the lending arm of the Larsen & Toubro Group, has reported a 23% year-on-year rise in its retail loan book to Rs 92,200 crore for the quarter ended December 2024. This represents a significant increase from Rs 74,759 crore in the same quarter last year. The company’s retail disbursements also saw a 4% rise to Rs 15,170 crore. The loans were distributed across various segments, with the urban finance segment seeing the highest uptake at Rs 6,520 crore, followed by farmer finance at Rs 2,490 crore. The SME finance segment also registered growth, rising to Rs 1,240 crore. However, the rural business finance segment declined to Rs 4,590 crore from Rs 5,475 crore in the same period last year. The company’s retailization has increased to 97% in the third quarter of this fiscal, up from 91% in the previous year.
CNBC-TV18 takes to LinkedIn: L&T Finance shares latest Q3 update, retail loan book jumps 23% to ₹92,200 crore
Larsen & Toubro Financial Services (L&T Finance) has released its Q3 business update. The company reported a significant growth in its retail loan book, which surged 23% to ₹92,200 crore (approximately $12.5 billion) as of December 31, 2022. This growth is driven by a 25% year-on-year (YoY) increase in new originations, with the company disbursing ₹13,400 crore (approximately $1.8 billion) in the quarter.
The company’s net interest income (NII) grew 15% YoY to ₹948 crore (approximately $128 million), driven by higher interest yields and enlarged asset book. Its non-interest income, primarily comprised of fees and commission, increased 14% YoY to ₹153 crore (approximately $20 million).
L&T Finance’s net profit after tax (PAT) stood at ₹415 crore (approximately $55 million), up 22% YoY. The company’s asset base crossed ₹1.75 lakh crore (approximately $230 billion), with a gross non-performing asset (GNPA) ratio of 4.45% and a provisioning coverage ratio of 104.66%. The company’s equity share price rose 1.1% intra-day post the Q3 results.
A Metro Machine Supplier Secures a $25-Million Order from Larsen & Toubro, Anticipating 12,000% Returns to Multi-Bag Its Investment
Metro Machine Suppliers, a company, has secured a significant order worth Rs 2,50,00,000 from Larsen & Toubro Ltd, a leading infrastructure and construction major. This order is expected to yield 12,000% returns, making it a multibagger investment opportunity. The order is for the supply of equipment and machines, which is a testament to the company’s growing reputation as a reliable supplier in the industry. Larsen & Toubro’s large-scale projects require a vast array of equipment and machinery, and Metro Machine Suppliers is perfectly positioned to capitalize on this trend. With this order, the company’s financials are set to see a significant boost, making it an attractive investment option for analysts. The prospect of such a large and prestigious order is a significant milestone for Metro Machine Suppliers, and investors are likely to take note of its proven track record of delivering high-quality equipment and machines to top-tier clients. This development could be a catalyst for the company’s growth and valuation, making it an exciting opportunity for investors to consider.
Analyst Jefferies advises investors to consider large-cap stocks, specifically L&T, HAL, and Siemens, according to a report by Zee Business.
According to Zee Business, Jefferies, a global investment bank and financial services firm, is recommending buying large-cap scrips, specifically:
* Larsen & Toubro (L&T)
* Hindustan Aeronautics Limited (HAL)
* Siemens
* and possibly more.
Jefferies emphasizes the potential for large-capitalization stocks to outperform in the current market, citing their stability, steady performance, and strong fundamentals. The experts at Jefferies believe these companies are likely to benefit from the ongoing economic revival, infrastructure development, and structural growth.
The brokerage firm is advising clients to take a “buy” position in these large-cap scrips, considering their attractive valuations, consistent dividend yields, and robust financials. Jefferies also notes that these companies have been less volatile and offer a relatively lower risk profile compared to their mid-cap and small-cap counterparts.
Overall, the recommendation by Jefferies is to focus on large-cap stocks with strong fundamentals, which are likely to provide long-term capital appreciation and steady returns for investors.
Our analysts recommend a buy on L&T Finance shares.
L&T Finance is a leading player in the Indian financial sector, led by a seasoned management team. Under its new MD, Sudipro Roy, the company is focusing on developing future-ready technology, such as AI and ML-driven initiatives, to enhance operational efficiency and drive product penetration across urban and rural markets. The company’s asset quality remains strong, with a gross NPAs of 3.19% and net NPAs of 0.8%, driven by conservative underwriting and a focus on low-risk segments. The company also maintains a strong portfolio by reducing high-leverage exposure and focusing on low-indebtedness customers. We expect a healthy AUM CAGR of 17% over FY24-27, driving positive profit growth. We maintain a Buy rating with a target price of ₹204, despite the risk of more-than-anticipated delinquencies in the MFI book and a general slowdown in economic activity.
Jefferies upgrades HDFC Bank, increases exposure, and adds Siemens to its Asia Long portfolio.
Jefferies, a global investment firm, has announced changes to its long-only equity portfolios in Asia, excluding Japan. The adjustments aim to rebalance key holdings and optimize the portfolios. In its Asia ex-Japan portfolio, Jefferies will reintroduce HDFC Bank Ltd. with a 4% weighting, offset by reducing stakes in Macrotech Developers, Larsen & Toubro, ICICI Bank, and Axis Bank by 1% each. Additionally, the firm will add Siemens Ltd. with a 4% weighting, replacing Samsung Electronics Pref and reducing its stake in SK Hynix by 1%. For its global equity portfolio, Jefferies will remove Samsung Electronics Pref and replace it with Schneider Electric SE, a French power equipment company. This move aims to diversify the firm’s global exposure, particularly in the power sector. The changes reflect Jefferies’ ongoing efforts to optimize its portfolios and adapt to market trends.
Looking ahead, Larsen & Toubro (L&T) aims to achieve a 20% increase in revenue from its construction and mining machinery business in fiscal 2026.
Infrastructure major Larsen & Toubro (L&T) expects its construction and mining machinery business to grow at least 20% in the next fiscal year and double its sales in the next five years. The company has launched a mini excavator, the Komatsu PC35, which will help drive growth. L&T and Komatsu Ltd had a joint venture to manufacture construction equipment and hydraulic components in India, but in 2013, they decided to focus on different aspects of the business, with L&T handling sales, after-sales, and service. The company is also working on a five-year strategic plan, called the Lakshya Vision Plan, which aims to achieve significant growth and profitability. Additionally, Komatsu has made its machines compliant with biofuel, which can run on a 20% mix of ethanol and 80% fuel, and the company is looking to upgrade to B30, which will reduce fuel costs further. L&T Construction & Mining Machinery, a business vertical of Larsen & Toubro, is almost 80 years old and has pioneered the introduction of hydraulic excavators and vibratory compactors in India.
L&T expects a 20% growth in its construction and mining machinery segment in FY26.
Larsen & Toubro (L&T), an infrastructure major, expects its construction and mining machinery business to grow at least 20% in the next fiscal year, with plans to double sales in the next five years. The company aims to achieve this by investing in its service capabilities and launching new products like the Komatsu PC35 mini excavator. L&T has a joint venture with Komatsu Ltd to manufacture construction equipment and hydraulic components in India. Although Komatsu focuses on manufacturing, L&T handles customer interaction, pre-sales, after-sales, service, spare parts, and warranty. The company is confident it will achieve 15% growth in the current financial year, despite potential restrictions on government spending. L&T is also working on its “Lakshya Vision Plan,” a five-year strategic plan to outline its goals. Notably, all Komatsu machines can run on B20 biodiesel, and the company is upgrading to B30 to reduce fuel costs further. With an 80-year history, L&T Construction & Mining Machinery is a pioneer in India, introducing hydraulic excavators and vibratory compactors.
Larsen & Toubro slapped with a ₹42.5 lakh penalty by tax authorities, reports ET LegalWorld.
Larsen & Toubro Limited has received a notice from the tax authorities under Section 74 of the Central Goods and Services Tax Act, 2017. The tax authorities have levied a penalty of ₹42,52,288 for disallowing transitional credit claimed by the company. The company disagrees with the levy and plans to file an appeal before the appellate authority. According to the company, it expects a favorable outcome at the higher forum. This disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Fatal Tragedy: L&T Crusher Bucket Malfunctions, Severing Leg of Youth in Shocking Accident in Chhatarpur
A distressing incident occurred in Chhatarpur’s Buxwaha area when a bucket attached to an L&T machine fell on a youth’s leg, severing it from his body. The incident happened while the machine was being used to dig a road near Semra Bridge. The bucket got entangled in telephone wires and eventually fell on the leg of 25-year-old Halkai Yadav, who was asked to remove the cable. As a result, his left leg was separated from his body. The incident sparked anger and chaos, with local residents and family members blocking the national highway in protest. Police and officials, including the sub-divisional magistrate, were called to the scene to deal with the situation. The victim was rushed to Sagar hospital for treatment.
L&T Technology Services Celebrates 10 Years of Delivering Engineering Excellence in Partnership with Siemens.
L&T Technology Services (LTTS) and Siemens Digital Industries Software (DISW) have expanded their 10-year collaboration to enhance their Centre of Excellence (CoE) charter. The partnership aims to accelerate time-to-market and improve product quality for clients in sectors such as automotive, aerospace, electronics, energy, healthcare, and industrial machinery. LTTS will leverage Siemens’ digital technology platforms to drive innovation, create integrated digital twins, and provide comprehensive solutions across the Siemens software portfolio. The partnership will also establish a Digital Manufacturing Academy to train engineers in Siemens’ core technologies and host “Techday” client workshops to showcase innovations and demonstrate the benefits of digital transformation. The expanded collaboration aims to boost productivity and efficiency in manufacturing, provide sustainable growth and competitive advantages to clients, and empower them to navigate their digital transformation journeys effectively. With this partnership, LTTS and Siemens aim to be a one-stop solution for clients, providing products, services, and implementation strategies.
Legacy in Innovation: L&T Technology Services Celebrates Ten Years of Engineering Leadership Partnering with Siemens
L&T Technology Services Limited (LTTS) and Siemens Digital Industries Software (DISW) have expanded their collaboration to enhance their Centre of Excellence (CoE) charter. The partnership aims to incubate new cutting-edge technologies in sectors such as automotive, aerospace, electronics, energy, healthcare, and industrial machinery. The expanded partnership will accelerate time-to-market and improve product quality for clients by leveraging Siemens’ digital technology platforms. LTTS will drive innovation through the creation of integrated digital twins for products, plants, and performance, helping clients enhance outcomes in both product and process quality. The partnership will also establish a Digital Manufacturing Academy to train engineers in Siemens’ core technologies and organize Client Workshops to ideate and demonstrate the benefits of digital transformation. The collaboration aims to boost productivity and efficiency in manufacturing, enabling clients to navigate their digital transformation journeys effectively.
L&T secures massive Rs 7,629 crore deal from Defence Ministry, strengthening ‘Aatmanirbhar Bharat’ initiative
Larsen & Toubro, a leading construction giant, has secured a significant order worth Rs 7629 crore from the Ministry of Defence. This deal is a major boost to the “Aatmanirbhar Bharat” initiative, which aims to promote self-reliance in the country. As per the contract, L&T will manufacture self-propelled tracked artillery guns for the Indian Army. The ministry announced the news on Friday, marking a significant milestone for the company and the Indian defence sector. This order is a testament to L&T’s capabilities and expertise in designing and manufacturing complex defence equipment. The self-propelled tracked artillery guns will be a vital addition to the Indian Army’s arsenal, enhancing its firepower and combat capabilities. The deal is expected to have a positive impact on the Indian defence industry, promoting indigenous production and self-reliance.
L&T secures massive ₹7.6k-cr contract with Defence Ministry for artillery guns
The Indian Defence Ministry has signed a INR 7,629-crore (approximately $1.04 billion) contract with Larsen & Toubro (L&T) to manufacture 100 more self-propelled K9 Vajra-T guns, a repeat order under the “Buy (Indian)” category. The guns will be produced in collaboration with Hanwha Techwin, a South Korean company, and will be used by the Indian Army to enhance its artillery modernization and operational readiness. The procurement will also generate over 9 lakh man-days of employment and encourage the participation of Indian industries, including Micro, Small, and Medium Enterprises (MSMEs). The K9 Vajra-T guns are capable of delivering long-range, high-precision, and high-rate fires and can operate in sub-zero temperatures in high-altitude areas. This project will be a flagship of “Aatmanirbhar Bharat” (Self-Reliant India) and “Make-in-India” initiatives, emphasizing indigenization and self-sufficiency in defense production.
Innovative Solutions & Seamless Transportation Unveiled: L&T Technology Services
Rodney emphasizes the importance of building a sustainable framework for successful implementation of sustainable manufacturing. He highlights four key elements: (1) developing a clear and compelling sustainability vision, (2) engaging all levels of the organization to embed sustainability into the company culture, (3) creating a roadmap with defined goals and metrics to track progress, and (4) implementing robust governance to measure and manage emissions, water usage, and waste. He stresses that sustainability should be integrated into a company’s broader strategy, rather than treated as a “pet project”. According to Rodney, purpose is key to sustainability, and organizations struggling to execute their goals can benefit from leveraging external expertise and technologies. He concludes that sustainability is about creating long-term value for both the organization and the planet. The article also mentions various upcoming events and publications from the manufacturing industry.
Mid-cap leaders continue to correct, with the NIFTY50 and SENSEX experiencing a further decline; HDFC Bank, ICICI Bank, and L&T top the list of index laggards, according to data from Upstox.
The NIFTY50 and SENSEX indices have continued to decline, with several top stocks contributing to the losses. HDFC Bank, ICICI Bank, and Larsen & Toubro (L&T) were the top index drizzles, leading the indices lower. The NIFTY50 has dropped by 1.14% to end at 17,341.45, while the SENSEX has fallen by 1.07% to 56,421.84.
The decline in HDFC Bank, ICICI Bank, and L&T was driven by various factors, including valuations, interest rates, and concerns about their individual performance. HDFC Bank, in particular, is facing challenges in its retail business, while ICICI Bank has been impacted by concerns over its asset quality.
Moreover, L&T has been experiencing pressure due to concerns over its construction business. The performance of these heavyweights has weighed on the broader market, leading to the decline in the indices. However, it is worth noting that not all stocks have participated in the decline, with some sectors such as technology and energy remaining resilient.
Telangana Today: KTR attacks Revanth Reddy over alleged threat to arrest L&T official
BRS working president KT Rama Rao has condemned the remarks made by Chief Minister A Revanth Reddy, who claimed to have asked the police to arrest L&T CFO R Shankar Raman and put him in prison for criticizing the Congress government’s free bus ride scheme. Reddy made these comments during a national debate in Delhi, stating that the scheme had resulted in low metro commuters. Rama Rao questioned the Chief Minister’s motives, saying that Revanth Reddy, who has had personal experience with jail time, seemed to want others to experience the same. He also asked why Reddy would threaten a respected organization like L&T with jail time simply for expressing an opinion. Rama Rao further questioned whether this was part of a strategy by Congress Lok Sabha leader Rahul Gandhi to attract investments. The comments have not gone well with Hyderabad’s business groups, who are concerned about the Chief Minister’s approach to dealing with criticism.
Why was L&T Metro official arrested on the orders of Telangana politician Revanth Reddy?
Telangana Chief Minister A Revanth Reddy has admitted to ordering the arrest of a senior official from L&T, the company that operates the Hyderabad Metro Rail, after the official stated that the Congress government’s decision to offer free travel for women in RTC buses had impacted occupancy and resulted in losses to the company. The official reportedly fled to Mumbai after being arrested. Revanth Reddy defended the decision, saying the official made a “politically motivated” statement to defame the government. He also issued a stern warning to fans of actor Allu Arjun, stating that anyone staging an unpermitted protest would be jailed. On the topic of modifications to the Telangana Thalli statue, Revanth Reddy defended the changes, saying the “hand” on the statue symbolized showering blessings to the people, similar to other deities such as Gautam Buddha and Shirdi Sai Baba. The admission of the arrest and warnings suggest a concerning disregard for freedom of speech and criticism in the state.
The Nifty closed below 24,600, with Reliance and L&T leading the decline, according to CNBCTV18.
The Indian stock market saw a decline at the close of trading, with the Nifty ending below the 24,600 level. The benchmark index, Nifty 50, fell by 0.35% to close at 24,583.95. The market witnessed a broad-based sell-off, with most sectors, including IT, auto, and banking, witnessing significant declines.
Reliance Industries and Larsen & Toubro (L&T) were among the top decliners, with both stocks falling by over 1.5%. Other blue-chip stocks like Tata Consultancy Services, Infosys, and ICICI Bank also saw significant losses.
The broader market indices, such as the Nifty Midcap 100 and Nifty Smallcap 100, fell by 0.75% and 1.35%, respectively. The fall in the market was largely attributed to profit-booking and a lack of major positive triggers.
In the currency market, the Indian rupee weakened against the US dollar, closing at 74.47 compared to the previous close of 74.38. The yield on the 10-year government bond also rose to 6.55%, indicating a cautious market sentiment.
Laurens Electric and Automation, formerly known as L&T Switchgear, is proud to be the new Principal Partner of MI.
Here is a summary of the content within 200 words:
Lauritz Knudsen Electrical and Automation, a leading player in the Indian electrical and automation industry and a unit of Schneider Electric Group, has partnered with the Mumbai Indians cricket team as their Principal Partner effective from the 2025 season. The partnership allows Lauritz Knudsen’s brand logo to be displayed on the front of the Mumbai Indians’ jersey and training apparel, making it visible to fans across the globe. The agreement is built on shared values and synergies, promoting innovation, performance, and excellence. The Mumbai Indians’ spokesperson expressed excitement, while Deepak Sharma from Schneider Electric India emphasized their shared passion for growth and excellence. Naresh Kumar from Lauritz Knudsen highlighted their commitment to India and empowerment of its growth through innovative solutions. This partnership aims to elevate both brands and amplify the impact of cricket, with goals of driving progress and advancing the nation’s growth.
India’s top 10 most-valued companies see market value plummet by Rs 29,000 crore, led by declines at RIL and HUL.
The market capitalization (market cap) of several Indian companies has seen significant changes. HDFC Bank Ltd. saw its market cap increase by Rs 8,925 crore to Rs 14.2 lakh crore. Larsen & Toubro Ltd. gained Rs 12,106 crore, taking its market cap to Rs 5.43 lakh crore. Infosys Ltd. added Rs 1,889 crore to its market cap, which now stands at Rs 8 lakh crore. Bharti Airtel Ltd. saw its market cap rise by Rs 3,501 crore to Rs 9.13 lakh crore. Despite these changes, Reliance Industries Ltd. (RIL) remained the most-valued firm, followed by Tata Consultancy Services (TCS), HDFC Bank, Airtel, ICICI Bank, Infosys, State Bank of India (SBI), Hindustan Unilever Ltd. (HUL), ITC, and HCL Technologies Ltd.
Larsen & Toubro secures major victory, $96.5 million customs demand overturned
Larsen and Toubro (L&T), an engineering and construction conglomerate, has won a case against the Central Excise & Service Tax Appellate Tribunal in Ahmedabad. The company was facing a demand of ₹702 crore in customs duty, which was denied by the Principal Commissioner of Customs, Ahmedabad. L&T had filed an appeal with the tribunal, which has now ruled in favor of the company, setting aside the entire demand. This is a significant win for L&T, as the company had reported a 5.4% year-on-year increase in net profit for the second quarter. The company’s revenue from operations also surged 20.6% to ₹61,554.6 crore during the period. The company’s shares ended up 0.93% on the BSE, closing at ₹3,865.80. The favorable ruling comes amidst L&T’s strong financial performance, with the company having completed its acquisition of 15% stake in cloud player E2E Networks.
L&T Technology Services inks $50 million agreement with a major international network solutions company
L&T Technology Services (LTTS) has announced a $50 million, multi-year contract with a global network solutions provider to deliver product integration services in North America. The agreement involves supporting the client in deploying advanced networking solutions for customers in the region, utilizing artificial intelligence (AI) and automation frameworks. The partnership aims to ensure seamless integration of networking technologies and prepare for advancements in 5G technology under 3GPP standards. The collaboration also includes delivering secure LTE and 5G private networks to support operations across various industries. According to LTTS’ CEO, this agreement marks a significant milestone for the company, leveraging its expertise in managing communication networks to deliver value and reliability to the customer.
The PM Internship Scheme has seen a remarkable response, with over 90,800 opportunities posted by 193 firms on the platform, with major companies like Maruti, L&T, and Reliance taking part.
The Prime Minister’s Internship Scheme has officially opened for registration, offering over 90,800 internship opportunities from 193 firms, including top companies like Maruti, L&T, and Reliance. The scheme aims to provide internships to undergraduate and postgraduate students to gain hands-on experience in various industries. To be eligible, candidates must be pursuing a minimum three-year degree program and have completed 18 years of age. The registration process is online, and candidates can apply on the official website. The selected interns will have the opportunity to work in a variety of industries, including IT, finance, and manufacturing. The duration of the internship will vary, typically ranging from 2-6 months. The scheme is open to all Indian citizens, including those in rural and urban areas. The Programme is an initiative of the Government of India to promote skill development, entrepreneurship, and employment generation. Key participating firms like Maruti, L&T, and Reliance have showcased their commitment to nurturing talent and preparing India’s future leaders.