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

The key equity benchmarks traded with deep cuts in afternoon trade. The Nifty hovered below the 24,250 mark. IT, consumer durables and FMCG shares declined while Pharma and media shares advanced. Trading could be volatile due to monthly F&O series expiry today. At 13:28 IST, the barometer index, the S&P BSE Sensex, declined 502.95 points or 0.63% to 79,436.23. The Nifty 50 index fell 131.40 points or 0.54% to 24,209.45. In the broader market, the S&P BSE Mid-Cap index fell 0.85% and the S&P BSE Small-Cap index rose 0.89%. The market breadth was strong. On the BSE, 2,419 shares rose and 1,389 shares fell. A total of 130 shares were unchanged. 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. Gainers & Losers: Cipla (up 9.87%), Larsen & Toubro (up 6.58%), Dr Reddy Laboratories (up 2.10%), Hepr Motocorp (up 2.07%) and ONGC (up 1.39%) were major Nifty gainers. Cipla surged 9.87% 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 received 6 inspectional observations in Form 483. Larsen & Toubro (L&T) jumped 6.58% 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. Tech Mahindra(down 3.87%), HCL Technologies (down 3.08%), Shriram Finance (down 2.87%), Tata Consultancy Service (TCS) (down 2.51%) and Infosys (down 2.40%) were major Nifty losers. Stocks in Spotlight: Biocon fell 2.84% to Rs 311.70 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. Tata Power Company advanced 1.84% to Rs 435 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. DCM Shriram gained 2.09% to Rs 1,068.90 after 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. Global Market: The US Dow Jones index futures are currently down by 63 points, signaling a negative opening for US stocks today. European market declined as invetors look ahead to the euro zone inflation data. Asian stocks traded mixed 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

Growth in revenue aided by an accelerated progress in the various businesses in Projects & Manufacturing (P&M) portfolio. Profit before tax (PBT) increased 11.3% YoY to Rs 5,555.09 crore during the quarter. The company received orders of Rs 80,045 crore at the group level during the quarter ended September 30, 2024, registering a sequential growth of 13% and a y-o-y degrowth of 10%. During the quarter, multi-geography orders were received across different segments like Renewables, Transmission & Distribution, Roads & Runways, Urban Transit, Nuclear Power, Hydel & Tunnel, Minerals & Metals, Factories, Precision Engineering and the Offshore vertical of Hydrocarbon business. International revenues during the quarter at ₹ 32,057 crore constituted 52% of the total revenues, largely reflective of a robust international P&M order book. International orders at Rs 50,083 crore during the quarter comprised 63% of the total order inflow. The consolidated order book of the group as on September 30, 2024, is at Rs 510,402 crore registers a growth of 7% over March 2024, with the share of international orders at 40%. In Infrastructure projects segment posted revenues of Rs 31,954 crore during the quarter, registering a strong y-o-y growth of 30%, aided by improved progress across various projects. International revenues constituted 45% of the total customer revenues of the segment during the quarter. The segment secured order inflow of Rs 49,522 crore, during the quarter ended September 30, 2024, registering a substantial growth of 77% on y-o-y basis aided by orders in transmission & distribution and Renewable Energy. The segment order book stood at Rs 342,954 crore as on September 30, 2024, with the share of international orders at 32% Revenue from Energy projects jumped 31% YoY to Rs 8,873 crore in Q2 FY25. International revenues constituted 69% of the total customer revenues of the segment during the quarter. The segment secured orders valued at Rs 7,759 crore during the quarter ended September 30, 2024. International order inflow constituted 83% of the total order inflow during the quarter. The segment order book was at Rs 117,154 crore as on September 30, 2024, with the international order book constituting 77%. The Hi-tech Manufacturing segment achieved customer revenues of Rs 2,063 crore in Q2 Fy25, registering a growth of 9% YoY, with peak execution ramp-up in certain jobs of the Precision Engineering & Systems business. International revenues constituted 15% of the total customer revenues of the segment during the quarter. The segment secured orders valued at Rs 3,920 crore during the quarter ended September 30, 2024, registering a robust growth of 64% over the previous year. Export orders constituted 37% of the total order inflow of the segment during the quarter. The order book of the segment was at Rs 35,611 crore as on September 30, 2024, with the share of export orders at 10%. The IT & Technology Services (IT&TS) segment recorded customer revenues of Rs 11,798 crore for the quarter ended September 30, 2024, registering a modest y-o-y growth of 6%, reflective of the present market conditions. International billing contributed 93% of the total customer revenues of the segment for the quarter ended September 30, 2024. The financial services segment recorded income from operations at Rs 3,837 crore during the quarter ended September 30, 2024, registering y-o-y growth of 24% mainly attributed to a proactive portfolio management viz. higher retail disbursements with timely collections. The total Loan Book at Rs 93,015 crore grew by 9% as compared with March 2024 at Rs 85,565 crore. Further, on a y-o-y basis the total Loan Book reported growth of 18%. The Retail loan book now constitutes 96% of the total loan book as on September 30, 2024. Development Projects Segment recorded customer revenues of Rs 1,382 crore during the quarter ended September 30, 2024 registering de-growth. 'Others' segment comprises (a) Realty (b) Industrial Valves (c) Construction Equipment & Mining Machinery and (d) Rubber Processing Machinery. Customer revenues of the segment during the quarter ended September 30, 2024 at Rs 1,648 crore registered moderate growth of 2% y-o-y, primarily higher handover of residential units in Realty business. Export sales constituted 13% of the total customer revenues of the segment during the quarter, mainly pertaining to Industrial Valves business. S.N. Subrahmanyan, chairman and managing director said: 'The projects & manufacturing businesses of the Company continue to perform well. We have a record order book more than Rs 5 lakh crore that is a testimony of our proven competence in the domains of engineering, construction, manufacturing, and project management. Our new transformative investments in Green Energy, Data Centers, Digital Platforms and Semiconductor Design will, besides improving our Digital and Sustainability footprint, compliment our current business portfolio as well. We expect the Middle East Capex momentum to remain healthy. The company remains committed on delivering a sustained performance of growth.' 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.Powered by Capital Market - Live

Larsen & Toubro Ltd rose 5.15% today to trade at Rs 3582.55. The BSE Capital Goods index is up 1.47% to quote at 68655.58. The index is down 6.05 % over last one month. Among the other constituents of the index, Finolex Cables Ltd increased 4.48% and Elgi Equipments Ltd added 1.76% on the day. The BSE Capital Goods index went up 50.84 % over last one year compared to the 25.53% surge in benchmark SENSEX. Larsen & Toubro Ltd has lost 1.89% over last one month compared to 6.05% fall in BSE Capital Goods index and 5.27% drop in the SENSEX. On the BSE, 25907 shares were traded in the counter so far compared with average daily volumes of 1.15 lakh shares in the past one month. The stock hit a record high of Rs 3948.6 on 03 Jun 2024. The stock hit a 52-week low of Rs 2872 on 01 Nov 2023.Powered by Capital Market - Live

Net profit of Larsen & Toubro rose 5.36% to Rs 3395.29 crore in the quarter ended September 2024 as against Rs 3222.63 crore during the previous quarter ended September 2023. Sales rose 20.64% to Rs 61554.58 crore in the quarter ended September 2024 as against Rs 51024.04 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales61554.5851024.04 21 OPM %12.8613.80 - PBDT6578.935900.96 11 PBT5555.094991.07 11 NP3395.293222.63 5 Powered by Capital Market - Live