L&T-Cloudfiniti, the Data Centre business initiative of Larsen & Toubro, has onboarded its first major customer at the state-of-the-art hyperscale data centre located in Sriperumbudur near Chennai. Cloudfiniti's Sriperumbudur Data Centre has a built-in capacity of 30 MW, and of this, 12 MW colocation-ready capacity is live across two floors. The client, a leading cloud service provider has rented as much as 6 MW IT Load capacity, consisting of high-density racks spread over an entire floor, and a bulk bandwidth, thus marking it a major customer-win for Cloudfiniti at the very start. The contract tenure, which is 10 years, underscores the trust the client has posed on Cloudfiniti's high-tech capabilities, cutting-edge infrastructure, and the strategic location of the data centre.Powered by Capital Market - Live

The key equity benchmarks traded with limited losses in the afternoon trade. The Nifty slipped below the 24,650 mark. FMCG, media and auto shares tumbled while consumer durable, financial services and realty shares advanced. At 13:25 IST, the barometer index, the S&P BSE Sensex, declined 96.63 points or 0.12% to 81,618.36. The Nifty 50 index lost 32.65 points or 0.13% to 24,645.15. The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rallied 0.32% and the S&P BSE Small-Cap index rose 0.46%. The market breadth was positive. On the BSE, 2,354 shares rose and 1,639 shares fell. A total of 117 shares were unchanged. Gainers& Losers: Larsen & Toubro (up 2.11%), SBI Life Insurance Company (up 1.94%), Adani Ports & Special Economic Zone (up 1.19%), HDFC Bank (up 1.18%) and Kotak Mahindra Bank (up 0.99%) were major Nifty gainers. Tata Consumer Products (down 4.20%), Hindustan Unilever (HUL) (down 3.25%), Nestle India (down 1.96%), Britannia Industries (down 1.60%) and Tata Motors (down 1.39%) were major Nifty losers. Stocks in Spotlight: CEAT soared 10.35% after RPG group company has entered into definitive agreement with associate companies of the Michelin Group (Michelin) to acquire Camso brand's Off-Highway construction equipment tyre and tracks business. Biocon fell 2.95% after the company has announced that it has received the establishment inspection report (EIR) from the U.S. Food and Drug Administration (USFDA) for its active pharmaceutical ingredient (API) facility located at Jigani Link Road, Bengaluru, Karnataka. Everest Organics spurted 19.97% after the company announced that its board of directors will meet on 10 December 2024 to consider and approve the proposal for fundraising. Godrej Consumer Products declined 8.99% after the company said that the standalone business is expected to report around flattish UVG (underlying volume growth) and around mid-single digit sales growth in this quarter. The surge in palm oil and derivatives prices to the extent of a y-o-y increase of 20-30% has impacted the soaps category, which represents around 1/3rd of the company's standalone business revenue. The company said that the weather conditions have not been supportive (delayed winters in North and cyclone in South India) to the Home Insecticides (HI) segment, contributing approximately 1/3rd of its standalone business. This has impacted HI category growths in the current quarter. Bajaj Healthcare rallied 5.18% after the company's Active Pharmaceutical Ingredient (API) manufacturing site at Savli, Vadodara in Gujarat received approval from Therapeutic Goods Administration (TGA), Australia. Global Market: European market advanced while most Asian stocks slipped on Monday, as investors grappled with South Korea's political turmoil and awaited fresh stimulus measures from China. Oil prices remained steady following the dramatic fall of the Syrian government. China's consumer prices rose less-than-expected in November, climbing 0.2% from a year ago, according to data from the National Bureau of Statistics released Monday. Investors are gearing up for a pivotal week, marked by a flurry of central bank decisions across four continents, a crucial meeting of Chinese officials, and the release of key US inflation data. This flurry of economic events will shape investment strategies for the remainder of 2024 and set the stage for 2025. Last Friday, US indices hit record highs on Friday, where technology stocks continued to push higher as stronger-than-expected nonfarm payrolls data did little to deter bets on a December rate cut. Markets were also seeking more cues on what President-elect Donald Trump's policies will entail for the U.S. in the coming years. The S&P 500 rose 0.3% to 6,090.27 points on Friday, while the NASDAQ Composite rose 0.8% to 19,859.77 points, with both indexes eking out record highs. The Dow Jones Industrial Average lagged, falling 0.3% to 44,642.52 points. Nonfarm payrolls increased by 227,000 jobs last month, above the expected 202,000, after rising an upwardly revised 36,000 in October as the labor market reeled from Hurricanes Helene and Milton as well as a big strike at Boeing factories in the West Coast. Investors were waiting to see what a major regime change in Syria will entail for geopolitics in the Middle East, after rebel forces ousted President Bashar al-Assad and took control of Damascus, ending 13 years of civil war. Media reports said al-Assad had landed in Moscow, while Israeli forces had entered Syria. US investors are eagerly awaiting the release of consumer price index inflation data on Wednesday. This key economic indicator will provide further insights into the health of the US economy and the future trajectory of interest rates.Powered by Capital Market - Live

Larsen & Toubro has issued and allotted 1,50,000 7.19% Rated, Listed, Unsecured, Redeemable, Non Convertible Debentures of Rs. 1 lakh each aggregating to Rs. 1,500 crore on 05 December 2024. Powered by Capital Market - Live

Larsen & Toubro has completed acquisition of 15% stake in E2E Networks via preferential allotment on 04 December 2024. The secondary acquisition of 6% from the promoter of E2E Networks is expected to be completed on or before 30 May 2025.Powered by Capital Market - Live

Larsen & Toubro announced that India Ratings and Research has affirmed / assigned 'IND AAA/Stable' rating for the Non-Convertible Debentures of the Company. India Ratings and Research has also affirmed 'IND A1+' rating for the Commercial Papers of the Company. Powered by Capital Market - Live

L&T Energy CarbonLite Solutions has secured 'Limited Notice to Proceed' (LNTP) from NTPC for setting up thermal power plants in Madhya Pradesh and Bihar. The orders pertain to main plant packages of 2x800 MW Stage-II thermal power plant at Gadarwara in Madhya Pradesh and 3x800 MW Stage-II thermal power plant at Nabinagar in Bihar. The scope of work involves design, engineering, manufacturing, supply, erection and commissioning of boilers, turbines, electrostatic precipitators (ESP), auxiliaries, along with the related mechanical, electrical, instrumentation and civil works. The orders are valued above Rs 15,000 crore according to the company's classification for ultra-mega projects. Powered by Capital Market - Live

Larsen & Toubro has announced a strategic partnership with E2E Networks, an Indian Cloud and AI Cloud provider. The partnership is a significant step towards the adoption of GenAI solutions in India to foster a fundamental shift in the way Accelerated Computing on Cloud is used by Indian organisations. The transformative journey for organisations in AI adoption is a fundamentally different approach to implementing GenAI software solutions using Cloud GPUs to utilise an organisation's deep learnings to deploy and evolve production-grade selfadapting AI Software. L&T will also acquire a 21% equity stake in E2E Networks through a combination of primary and secondary transactions. Under this alliance, L&T will integrate E2E Networks' Cloud and AI Cloud platform with its expertise in data center management and cloud solutions towards empowering startups, and enterprises. The collaboration aims to accelerate digital transformation for a diverse range of industries, fostering a technology-driven, sustainable future for India. Powered by Capital Market - Live

E2E Networks is an cloud company offering public cloud services to its customers. E2E Networks specializes in providing CPU and GPU-based cloud computing platforms, to help its customers carry out large scale general and AI-workloads by leveraging its relationship with NVIDIA. It had recorded a turnover of Rs 94.49 crore in FY 2023-24. Offering the rationale for the said acquisition, L&T said that the acquisition is complementary for market approach in the fast-growing areas of AI and cloud services. Along with the acquisition, the company also proposes to enter into a software license agreement, reseller agreement and co-location agreement with E2E Networks. L&T would acquire a total of 41,71,410 equity shares (comprising of an aggregate 21% of the capital) of E2E Networks. The investment would take the form of preferential allotment for 15% stake in E2E Networks, comprising of 29,79,579 equity shares of E2E Networks, for Rs 1,079.27 crore at Rs 3,622.25 per share. The investment would also involve a secondary acquisition of 6% stake, comprising of 11,91,831 equity shares in E2E Networks from the founder for Rs 327.75 crore at Rs 2,750 apiece. 'The company will not acquire control in E2E Networks pursuant to the proposed acquisition and will be a minority shareholder with certain protective rights,' L&T said in a statement. Larsen & Toubro (L&T) is an Indian multinational engaged in EPC Projects, hi-tech manufacturing and services. It operates in over 50 countries worldwide. A strong, customer'focused approach and the constant quest for top-class quality have enabled L&T to attain and sustain leadership in its major lines of business for eight decades. The company reported 5.36% increase in consolidated net profit to Rs 3,395.29 crore in Q2 FY25 on 20.64% jump in revenue from operations to Rs 61,554.58 crore in Q2 FY25 over Q2 FY24. The scrip shed 0.53% to currently trade at Rs 3554.50 on the BSE. Powered by Capital Market - Live

Larsen & Toubro has entered into an investment agreement on 05 November 2024 for acquisition of up to 21% stake in E2E Networks. E2E Networks specializes in providing CPU and GPU-based cloud computing platforms, to help its customers carry out large scale general and AI-workloads by leveraging its relationship with NVIDIA. The acquisition is complementary for market approach in the fast-growing areas of AI and cloud services. Along with the acquisition, the Company also proposes to enter into a software license agreement, reseller agreement and co-location agreement with E2E Networks. Pursuant to the acquisition, the Company will also have the right to nominate upto 2 (two) directors on the board of directors of E2E Networks and will also have certain rights and obligations in relation to transfer of equity shares of E2E Networks by Tarun Dua and Srishti Baweja (promoters of E2E Networks). Powered by Capital Market - Live

The headline indices ended with moderate losses on Thursday. The Nifty settled below the 24,250 mark. Media, pharma and healthcare shares advanced while IT, consumer durables and FMCG shares declined. Trading was volatile due to weekly F&O series expiry today. As per provisional closing, the S&P BSE Sensex, tumbled 553.12 points or 0.69% to 79,389.06. The Nifty 50 index declined 135.50 points or 0.56% to 24,205.35. In the broader market, the S&P BSE Mid-Cap index fell 0.34% and the S&P BSE Small-Cap index added 1.62%. The market breadth was positive. On the BSE, 2,662 shares rose and 1,255 shares fell. A total of 109 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 0.35% to 15.57. Both, BSE and NSE will conduct the Muhurat trading session on Friday, 1 November, from 6:00 pm to 7:00 pm. While markets remain closed during the day, this evening session allows investors to make token investments, following a long-standing custom of trading during Diwali. Buzzing Index: The Nifty IT index lost 3.03% to 40,407.55. The index declined 3.58% in two trading sessions. Tech Mahindra (down 4.46%), Persistent Systems (down 4.45%), HCL Technologies (down 4.21%), Mphasis (down 4.16%), L&T Technology Services (down 4.11%), Tata Consultancy Services (down 2.93%), Infosys (down 2.54%), Wipro (down 2.24%), LTIMindtree (down 1.42%) and Coforge (down 1.36%) slipped. Stocks in Spotlight: Larsen & Toubro (L&T) jumped 6.14% after the company reported 5.36% increase in consolidated net profit to Rs 3,395.29 crore in Q2 FY25 on 20.64% jump in revenue from operations to Rs 61,554.58 crore in Q2 FY25 over Q2 FY24. Cipla surged 9.58% after the drug maker the US drug regulator classified the manufacturing facility in Goa as voluntary action indicated (VAI). The United States Food and Drug Administration (USFDA) conducted routine current Good Manufacturing Practices (cGMP) inspection at Goa manufacturing facility from 10 to 21 June 2024. On conclusion, the company had received 6 inspectional observations in Form 483. Tata Power Company advanced 3.09% after the company's consolidated net profit increased 7.44% to Rs 1,093.08 crore despite of 0.26% increase in revenue from operations to Rs 15,697.67 crore in Q2 FY25 over Q2 FY24. Biocon fell 1.45% after the company reported a consolidated net loss of Rs 16 crore in Q2 FY25 as against a net profit of Rs 126 crore in Q2 FY24. Revenue from operations rose by 4% year-over-year (YoY) to Rs 3,590 crore during the quarter. DCM Shriram shed 0.71%. The company reported consolidated net profit surged 95.16% to Rs 62.92 crore on 10.79% rise in total revenue from operations to Rs 3,130.09 crore in Q2 FY25 over Q2 FY24. Prudent Corporate Advisory Services soared 16.25% after the company's consolidated net profit climbed 69.36% to Rs 51.52 crore on 50.54% jump in revenue from operations to Rs 286.08 crore in Q2 FY25 over Q2 FY24. Protean eGov Technologies declined 1.66% after the company's consolidated net profit declined 14.46% to Rs 28.04 crore on 6.75% fell in revenue from operations to Rs 219.70 crore in Q2 FY25 over Q2 FY24. Automotive Axles rose 0.69%. The company's standalone net profit declined 20.20% to Rs 35.97 crore on 15.35% decrease in revenue from operations to Rs 494.68 crore in Q2 September 2024 over Q2 September 2023. Global Markets: The US Dow Jones index futures are currently down by 209 points, signaling a weak opening for US stocks today. European market declined as investors look assessed the latest euro zone inflation data and latest key earnings from the region. Euro zone inflation rose to 2% in October, higher than September's 1.7% reading. The figures will inform the European Central Bank on the trajectory of expected interest rate cuts. Asian stocks ended lower on Thursday as investors look to the Bank of Japan's rate decision, as well as key business activity figures from China. The BOJ held its benchmark policy rate at 0.25%, unchanged from the previous meeting. The bank released a two-line statement simply stating the decision, with no clues on the timing of its next rate hike. In China, the country's manufacturing purchasing managers index flipped into expansion territory for the first time since April, with the National Bureau of Statistics revealing the manufacturing PMI came in at 50.1. In the US, stocks rallied on Wednesday, with the tech-heavy Nasdaq Composite reaching a new record high, driven by strong earnings from Alphabet. The Dow Jones Industrial Average gained 0.51%, the S&P 500 rose 0.29%, and the Nasdaq Composite climbed 0.24%. Economic data released on Wednesday showed that the US economy grew at an annual rate of 2.8% in the third quarter, supported by consumer spending and government expenditure. However, this was a slowdown from the second quarter's 3% pace. Additionally, US private payrolls surged by 233,000 jobs in October, exceeding expectations. Market participants are cautiously looking ahead to a crucial week, which includes the release of US non-farm payrolls data on Friday, the presidential election next Tuesday, and a Federal Reserve policy decision next Thursday. Gold prices continued to climb, reaching a new record high.Powered by Capital Market - Live