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Larsen And Toubro Completes Transfer Of L&T Sufin Business To Sufin
March 31 (Reuters) - Larsen and Toubro Ltd LART.NS:
COMPLETES TRANSFER OF L&T SUFIN BUSINESS TO SUFIN LIMITED
TRANSFER VALUED AT 429 MILLION RUPEES
Source text: ID:nBSE6rqMz
Further company coverage: LART.NS
March 31 (Reuters) - Larsen and Toubro Ltd LART.NS:
COMPLETES TRANSFER OF L&T SUFIN BUSINESS TO SUFIN LIMITED
TRANSFER VALUED AT 429 MILLION RUPEES
Source text: ID:nBSE6rqMz
Further company coverage: LART.NS
Larsen And Toubro Says SSPL Has Been Amalgamated With And Into L&T Semiconductor Technologies Limited
March 24 (Reuters) - Larsen and Toubro Ltd LART.NS:
LARSEN AND TOUBRO- SILICONCH SYSTEMS PRIVATE LIMITED HAS BEEN AMALGAMATED WITH AND INTO L&T SEMICONDUCTOR TECHNOLOGIES LIMITED
Source text: [ID:]
Further company coverage: LART.NS
March 24 (Reuters) - Larsen and Toubro Ltd LART.NS:
LARSEN AND TOUBRO- SILICONCH SYSTEMS PRIVATE LIMITED HAS BEEN AMALGAMATED WITH AND INTO L&T SEMICONDUCTOR TECHNOLOGIES LIMITED
Source text: [ID:]
Further company coverage: LART.NS
Sharika Enterprises Gets Order Worth 94.7 Million Rupees From Larsen & Toubro
March 20 (Reuters) - Sharika Enterprises Ltd SHKI.BO:
RECEIVES PURCHASE ORDER WORTH 94.7 MILLION RUPEES FROM LARSEN & TOUBRO
Source text: ID:nBSE9Ry7jK
Further company coverage: SHKI.BO
March 20 (Reuters) - Sharika Enterprises Ltd SHKI.BO:
RECEIVES PURCHASE ORDER WORTH 94.7 MILLION RUPEES FROM LARSEN & TOUBRO
Source text: ID:nBSE9Ry7jK
Further company coverage: SHKI.BO
India's L&T hits one-month low as Middle East exposure weighs
March 4 (Reuters) - Shares of Indian infrastructure major Larsen & Toubro LART.NS fell more than 6% on Wednesday to a one-month low as escalating tensions in the Middle East rattled markets.
The construction and engineering firm has lost about 11% over the last four sessions.
(Reporting by Brijesh Patel in Bengaluru; Editing by Mrigank Dhaniwala)
((Brijesh.Patel1@thomsonreuters.com; Ph no. +91 9590227221;))
March 4 (Reuters) - Shares of Indian infrastructure major Larsen & Toubro LART.NS fell more than 6% on Wednesday to a one-month low as escalating tensions in the Middle East rattled markets.
The construction and engineering firm has lost about 11% over the last four sessions.
(Reporting by Brijesh Patel in Bengaluru; Editing by Mrigank Dhaniwala)
((Brijesh.Patel1@thomsonreuters.com; Ph no. +91 9590227221;))
India File: Iran conflict threatens sweet-spot economy
India File is published every Tuesday. Think your friend or colleague should know about us? Forward this newsletter to them. They can also subscribe here.
March 3 - By Ira Dugal, Editor Financial News, with global Reuters staff
Just when things seemed to be finally going right for the $3.8 trillion Indian economy, war has broken out between Iran and U.S.-Israel and engulfed other parts of the Middle East, bringing to the fore risks to the South Asian nation's external sector that have not been fully priced in.
Can a protracted conflict prematurely end the economy's Goldilocks phase? That's our focus this week. Write to me with your views at ira.dugal@thomsonreuters.com
To stay updated on developments, sign up for Reuters Gulf Currents newsletter and follow live coverage here.
And, technical incidents at Air India have risen. Scroll down for more on that Reuters exclusive.
THIS WEEK IN ASIA
** Khamenei killing shatters Iran's order, triggers high-stakes succession race
** How Dubai's safe-haven status is being put to the test
** Bank of Japan deputy governor says rate hikes likely to continue
**China's annual parliament meet to unveil roadmap for tech race with the West
** 'Will it give me a job?': Nepal's election promises don't stop youth exodus
PRESSURE ON OIL COSTS
With the overhang of U.S. tariffs lifted recently, the Indian economy has been chugging along at a strong pace of growth with low inflation. But the Iran versus U.S.-Israel military conflict threatens to upend it.
The risks of an extended conflict in the Middle East, analysts say, could range from higher commodity prices to lower worker remittances and disruptions to businesses that have diversified to the flourishing economies in the region.
"A prolonged conflict, alongside a large jump in energy prices, would be a major macro negative (for India)," brokerage Jefferies said in a note on Monday.
The region accounts for 17% of India's exports, provides 55% of crude oil and 38% of worker remittances, it said.
Oil prices surged 8% on Monday following the military strikes over the weekend, with Brent crude LCOc1 for a while trading above $82 a barrel.
Prices could spike to $100 per barrel, Barclays said.
Global energy markets could face one of their gravest crises in decades with the scale of disruption likely to be determined by the duration of the conflict, Reuters Open Interest columnist Ron Bousso wrote. Read that piece here.
India could be among the most vulnerable if higher oil prices are sustained, analysts said. Read here to understand why. Government officials said on Monday steps will be taken to ensure local fuel supplies.
Every $10 per barrel increase in oil prices widens India's current account deficit to GDP ratio by 0.5%, Mumbai-based brokerage Emkay Global Financial Services said. It can add up to 35 basis points to retail inflation and hit GDP growth by 15-20 basis points, the brokerage added.
Nomura economists said that an extended increase in fuel costs could prompt governments in the region to use higher subsidies and lower taxes to protect consumers from the impact.
"Higher oil prices solidify the case for central banks to stay on hold," Nomura said.
Disruption of crucial sea routes could also hurt. Roughly a third of global seaborne crude oil exports pass through the Strait of Hormuz, with most volumes destined for economies such as China, India, Japan and South Korea, Moody's Analytics said.
An added risk for India is another spurt in already-high gold prices. Together oil and gold accounted for nearly a third of India's import bill in value terms in the current financial year till January.
Indian asset markets reflected these risks in Monday's trading, with equities and the rupee sliding and bond yields rising.
WORKER REMITTANCES MAY DWINDLE
India is walking a tightrope in the conflict, boasting historical cultural ties with Iran and strong strategic relations with Israel. Prime Minister Narendra Modi held talks with Israeli Prime Minister Benjamin Netanyahu in Jerusalem last week.
Weakness in the economies of Middle East nations could also hit large remittances that India gets from workers in the region, while putting businesses at risk.
Larsen and Toubro LART.NS, India's largest engineering and construction company, has nearly 40% of its engineering, procurement and construction order book coming from the region, Jefferies said. A few consumer goods companies, such as Dabur DABU.NS and Titan TITN.NS, along with pharma firms, also have material revenues linked to the Middle East, it said.
Additionally, airlines and tourism companies could be at risk of hits to profits if oil prices remain high and travel remains disrupted.
Extended uncertainty could also weigh on the near 10 million Indian workers in the Middle East, according to government data, many of whom send earnings home, boosting household finances and acting as a major source of foreign currency inflows into India.
The widening of the conflict across the region could slow down remittances, said Emkay Global, adding, though, that this was not their base case.
MARKET MATTERS
India's economy grew at 7.8% in the October-December period and is seen expanding at 7.6% in the current financial year, according to data released by the government under a revamped GDP series.
Read here for the key takeaways and catch up on views from economists here.
The new series is expected to provide a clearer read on the economy as it widens the sources of information, shifts to a more technically sound way of computing real GDP growth and updates the base year.
THIS WEEK'S MUST-READ
Technical incidents such as engine oil and fuel leaks affecting Air India flights reached their highest rate in at least 14 months in January, Reuters' Abhijith Ganapavaram and Aditya Kalra reported.
The airline in December admitted there was a "need for urgent improvements in process discipline, communication, and compliance culture".
In January, Air India recorded 1.09 technical incidents per 1,000 flights, quadrupling from levels of just 0.26 in December 2024.
Read that exclusive report here.
Indian stocks, rupee fall as Iran war roils sentiment https://reut.rs/46UHnWL
India GDP growth projected at 7.6% under new series https://reut.rs/3MTmh3V
OPEC's share in India's July crude mix rises as Russia declines https://reut.rs/4kLel1l
Iran conflict embeddable graphics: Attacks and counterattacks https://reut.rs/4bfzoG2
(Reporting by Ira Dugal; Editing by Muralikumar Anantharaman)
((Ira.Dugal@thomsonreuters.com; +91-9833024892;))
India File is published every Tuesday. Think your friend or colleague should know about us? Forward this newsletter to them. They can also subscribe here.
March 3 - By Ira Dugal, Editor Financial News, with global Reuters staff
Just when things seemed to be finally going right for the $3.8 trillion Indian economy, war has broken out between Iran and U.S.-Israel and engulfed other parts of the Middle East, bringing to the fore risks to the South Asian nation's external sector that have not been fully priced in.
Can a protracted conflict prematurely end the economy's Goldilocks phase? That's our focus this week. Write to me with your views at ira.dugal@thomsonreuters.com
To stay updated on developments, sign up for Reuters Gulf Currents newsletter and follow live coverage here.
And, technical incidents at Air India have risen. Scroll down for more on that Reuters exclusive.
THIS WEEK IN ASIA
** Khamenei killing shatters Iran's order, triggers high-stakes succession race
** How Dubai's safe-haven status is being put to the test
** Bank of Japan deputy governor says rate hikes likely to continue
**China's annual parliament meet to unveil roadmap for tech race with the West
** 'Will it give me a job?': Nepal's election promises don't stop youth exodus
PRESSURE ON OIL COSTS
With the overhang of U.S. tariffs lifted recently, the Indian economy has been chugging along at a strong pace of growth with low inflation. But the Iran versus U.S.-Israel military conflict threatens to upend it.
The risks of an extended conflict in the Middle East, analysts say, could range from higher commodity prices to lower worker remittances and disruptions to businesses that have diversified to the flourishing economies in the region.
"A prolonged conflict, alongside a large jump in energy prices, would be a major macro negative (for India)," brokerage Jefferies said in a note on Monday.
The region accounts for 17% of India's exports, provides 55% of crude oil and 38% of worker remittances, it said.
Oil prices surged 8% on Monday following the military strikes over the weekend, with Brent crude LCOc1 for a while trading above $82 a barrel.
Prices could spike to $100 per barrel, Barclays said.
Global energy markets could face one of their gravest crises in decades with the scale of disruption likely to be determined by the duration of the conflict, Reuters Open Interest columnist Ron Bousso wrote. Read that piece here.
India could be among the most vulnerable if higher oil prices are sustained, analysts said. Read here to understand why. Government officials said on Monday steps will be taken to ensure local fuel supplies.
Every $10 per barrel increase in oil prices widens India's current account deficit to GDP ratio by 0.5%, Mumbai-based brokerage Emkay Global Financial Services said. It can add up to 35 basis points to retail inflation and hit GDP growth by 15-20 basis points, the brokerage added.
Nomura economists said that an extended increase in fuel costs could prompt governments in the region to use higher subsidies and lower taxes to protect consumers from the impact.
"Higher oil prices solidify the case for central banks to stay on hold," Nomura said.
Disruption of crucial sea routes could also hurt. Roughly a third of global seaborne crude oil exports pass through the Strait of Hormuz, with most volumes destined for economies such as China, India, Japan and South Korea, Moody's Analytics said.
An added risk for India is another spurt in already-high gold prices. Together oil and gold accounted for nearly a third of India's import bill in value terms in the current financial year till January.
Indian asset markets reflected these risks in Monday's trading, with equities and the rupee sliding and bond yields rising.
WORKER REMITTANCES MAY DWINDLE
India is walking a tightrope in the conflict, boasting historical cultural ties with Iran and strong strategic relations with Israel. Prime Minister Narendra Modi held talks with Israeli Prime Minister Benjamin Netanyahu in Jerusalem last week.
Weakness in the economies of Middle East nations could also hit large remittances that India gets from workers in the region, while putting businesses at risk.
Larsen and Toubro LART.NS, India's largest engineering and construction company, has nearly 40% of its engineering, procurement and construction order book coming from the region, Jefferies said. A few consumer goods companies, such as Dabur DABU.NS and Titan TITN.NS, along with pharma firms, also have material revenues linked to the Middle East, it said.
Additionally, airlines and tourism companies could be at risk of hits to profits if oil prices remain high and travel remains disrupted.
Extended uncertainty could also weigh on the near 10 million Indian workers in the Middle East, according to government data, many of whom send earnings home, boosting household finances and acting as a major source of foreign currency inflows into India.
The widening of the conflict across the region could slow down remittances, said Emkay Global, adding, though, that this was not their base case.
MARKET MATTERS
India's economy grew at 7.8% in the October-December period and is seen expanding at 7.6% in the current financial year, according to data released by the government under a revamped GDP series.
Read here for the key takeaways and catch up on views from economists here.
The new series is expected to provide a clearer read on the economy as it widens the sources of information, shifts to a more technically sound way of computing real GDP growth and updates the base year.
THIS WEEK'S MUST-READ
Technical incidents such as engine oil and fuel leaks affecting Air India flights reached their highest rate in at least 14 months in January, Reuters' Abhijith Ganapavaram and Aditya Kalra reported.
The airline in December admitted there was a "need for urgent improvements in process discipline, communication, and compliance culture".
In January, Air India recorded 1.09 technical incidents per 1,000 flights, quadrupling from levels of just 0.26 in December 2024.
Read that exclusive report here.
Indian stocks, rupee fall as Iran war roils sentiment https://reut.rs/46UHnWL
India GDP growth projected at 7.6% under new series https://reut.rs/3MTmh3V
OPEC's share in India's July crude mix rises as Russia declines https://reut.rs/4kLel1l
Iran conflict embeddable graphics: Attacks and counterattacks https://reut.rs/4bfzoG2
(Reporting by Ira Dugal; Editing by Muralikumar Anantharaman)
((Ira.Dugal@thomsonreuters.com; +91-9833024892;))
Escalating Middle East war could hit multiple Indian sectors, brokerages say
** U.S.-Israel strikes on Iran that killed Supreme Leader Ali Khamenei and spurred a rise in crude prices could have adverse consequences on Indian sectors, brokerages say
** Brent crude LCOc1 up 6.7% at $77.8 a barrel on Monday
** Higher oil prices will likely hurt Indian oil marketing cos, paints, agro-chemicals, building materials, and tyre makers, according to Jefferies, BofA Securities and Bernstein
** Larsen & Toubro LART.NS particularly exposed, with Middle East forming ~50% of its order book and ~40% of revenue
** Building-materials players (tiles, PVC pipes) could see margin pressure due to higher gas costs
** Upstream oil cos, such as ONGC ONGC.NS and Oil India OILI.NS, to benefit from higher crude, while BPCL BPCL.NS, HPCL HPCL.NS and IOC IOC.NS face sharp profitability hit
** Agro-chemical firms at risk as India imports ammonia and sulphur via Strait of Hormuz
** Higher crude could raise India's borrowing costs, lift bond yields, and reduce PSU banks' treasury gains
** A 10% rise in crude will trim 200–250 bps from margins at Asian Paints ASPN.NS and Kansai Nerolac KANE.NS
** Indian benchmarks fall 1.3%, with broad-based sector declines on Monday .BO
Middle East conflict: Sector-wise impact on Indian companies https://reut.rs/4aWQyaa
(Reporting by Bharath Rajeswaran in Bengaluru)
((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))
** U.S.-Israel strikes on Iran that killed Supreme Leader Ali Khamenei and spurred a rise in crude prices could have adverse consequences on Indian sectors, brokerages say
** Brent crude LCOc1 up 6.7% at $77.8 a barrel on Monday
** Higher oil prices will likely hurt Indian oil marketing cos, paints, agro-chemicals, building materials, and tyre makers, according to Jefferies, BofA Securities and Bernstein
** Larsen & Toubro LART.NS particularly exposed, with Middle East forming ~50% of its order book and ~40% of revenue
** Building-materials players (tiles, PVC pipes) could see margin pressure due to higher gas costs
** Upstream oil cos, such as ONGC ONGC.NS and Oil India OILI.NS, to benefit from higher crude, while BPCL BPCL.NS, HPCL HPCL.NS and IOC IOC.NS face sharp profitability hit
** Agro-chemical firms at risk as India imports ammonia and sulphur via Strait of Hormuz
** Higher crude could raise India's borrowing costs, lift bond yields, and reduce PSU banks' treasury gains
** A 10% rise in crude will trim 200–250 bps from margins at Asian Paints ASPN.NS and Kansai Nerolac KANE.NS
** Indian benchmarks fall 1.3%, with broad-based sector declines on Monday .BO
Middle East conflict: Sector-wise impact on Indian companies https://reut.rs/4aWQyaa
(Reporting by Bharath Rajeswaran in Bengaluru)
((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))
Larsen & Toubro Buys 5.6 Million Units In Capital Infra Trust At 69.50 Rupees Apiece Via Bulk Deal
Feb 26 (Reuters) -
LARSEN & TOUBRO BUYS 5.6 MILLION UNITS IN CAPITAL INFRA TRUST AT 69.50 RUPEES APIECE VIA BULK DEAL - NSE DATA
Further company coverage: CPII.NS
Feb 26 (Reuters) -
LARSEN & TOUBRO BUYS 5.6 MILLION UNITS IN CAPITAL INFRA TRUST AT 69.50 RUPEES APIECE VIA BULK DEAL - NSE DATA
Further company coverage: CPII.NS
India's Larsen and Toubro rises on multiple order wins
** Shares of India's Larsen And Toubro LART.NS rise 1.93% to 4341.30 rupees
** Construction and engineering co secures a batch of EPC orders to establish electricity grid system elements in India and abroad
** Total value of orders ranges between 50 billion rupees ($549.77 million) to 100 billion rupees ($1.10 billion)
** Trading vols at 1.19 mln shares vs 30-day average of 2.25 mln shares
** Stock rated "buy" on avg by 30 analysts, median PT at 4715 rupees -- data compiled by LSEG
** LART gained 13.2% in 2025, stock up 4.3% so far in 2026
($1 = 90.9475 Indian rupees)
(Reporting by Surbhi Misra in Bengaluru)
((Surbhi.Misra@thomsonreuters.com | X: https://twitter.com/SurbhiMisra_ |;))
** Shares of India's Larsen And Toubro LART.NS rise 1.93% to 4341.30 rupees
** Construction and engineering co secures a batch of EPC orders to establish electricity grid system elements in India and abroad
** Total value of orders ranges between 50 billion rupees ($549.77 million) to 100 billion rupees ($1.10 billion)
** Trading vols at 1.19 mln shares vs 30-day average of 2.25 mln shares
** Stock rated "buy" on avg by 30 analysts, median PT at 4715 rupees -- data compiled by LSEG
** LART gained 13.2% in 2025, stock up 4.3% so far in 2026
($1 = 90.9475 Indian rupees)
(Reporting by Surbhi Misra in Bengaluru)
((Surbhi.Misra@thomsonreuters.com | X: https://twitter.com/SurbhiMisra_ |;))
Larsen And Toubro Wins Significant Order For LIGO India Observatory
Feb 24 (Reuters) - Larsen and Toubro Ltd LART.NS:
LARSEN AND TOUBRO - WINS SIGNIFICANT ORDER FOR LIGO INDIA OBSERVATORY
LARSEN AND TOUBRO - ORDER VALUE BETWEEN 10 BILLION RUPEES AND 25 BILLION RUPEES
Source text: ID:nBSE4zgCfX
Further company coverage: LART.NS
Feb 24 (Reuters) - Larsen and Toubro Ltd LART.NS:
LARSEN AND TOUBRO - WINS SIGNIFICANT ORDER FOR LIGO INDIA OBSERVATORY
LARSEN AND TOUBRO - ORDER VALUE BETWEEN 10 BILLION RUPEES AND 25 BILLION RUPEES
Source text: ID:nBSE4zgCfX
Further company coverage: LART.NS
India's LTIMindtree wins $100 million deal with European medtech firm
Adds details from paragraph 2 onwards
Feb 23 (Reuters) - Indian IT services company LTIMindtree LTIM.NS on Monday said it has secured a $100 million, seven-year deal with a Europe-based medical technology company that provides hearing solutions.
The IT company did not reveal the name of the European firm.
Under the agreement, LTIMindtree will develop and support the client's main hearing aid brands and private-label products, including core wearable devices, and a mobile app for users.
Earlier this month, LTIMindtree's the board approved a proposal to rename the company LTM Limited, subject to shareholder and regulatory clearances.
In January, the IT firm said total order bookings for the quarter ended December 31 hit a record $1.69 billion.
(Reporting by Nishit Navin; Editing by Mrigank Dhaniwala)
Adds details from paragraph 2 onwards
Feb 23 (Reuters) - Indian IT services company LTIMindtree LTIM.NS on Monday said it has secured a $100 million, seven-year deal with a Europe-based medical technology company that provides hearing solutions.
The IT company did not reveal the name of the European firm.
Under the agreement, LTIMindtree will develop and support the client's main hearing aid brands and private-label products, including core wearable devices, and a mobile app for users.
Earlier this month, LTIMindtree's the board approved a proposal to rename the company LTM Limited, subject to shareholder and regulatory clearances.
In January, the IT firm said total order bookings for the quarter ended December 31 hit a record $1.69 billion.
(Reporting by Nishit Navin; Editing by Mrigank Dhaniwala)
E2e Networks Signs Memorandum Of Understanding With Larsen & Toubro -Vyoma
Feb 20 (Reuters) - E2E Networks Ltd EENE.NS:
E2E NETWORKS LTD - SIGNS MEMORANDUM OF UNDERSTANDING WITH LARSEN & TOUBRO -VYOMA
E2E NETWORKS LTD - SIGNS MOU WITH LARSEN & TOUBRO -VYOMA TO PARTNER IN SCALING GPU CLOUD INFRASTRUCTURE
Source text: [ID:]
Further company coverage: EENE.NS
Feb 20 (Reuters) - E2E Networks Ltd EENE.NS:
E2E NETWORKS LTD - SIGNS MEMORANDUM OF UNDERSTANDING WITH LARSEN & TOUBRO -VYOMA
E2E NETWORKS LTD - SIGNS MOU WITH LARSEN & TOUBRO -VYOMA TO PARTNER IN SCALING GPU CLOUD INFRASTRUCTURE
Source text: [ID:]
Further company coverage: EENE.NS
FACTBOX-Tech majors commit billions of dollars to India at AI summit
Feb 19 (Reuters) - Senior executives from global artificial intelligence firms joined world leaders in India this week for a major AI summit.
Here is a list of all the major deals struck during the India AI Impact Summit in New Delhi.
INDIA'S RELIANCE INDUSTRIES, JIO TO INVEST $110 BILLION
Conglomerate Reliance Industries RELI.NS and its telecom arm Jio will invest $109.8 billion over the next seven years to build artificial intelligence and data infrastructure, its billionaire chairman Mukesh Ambani said on Thursday.
INDIA'S ADANI GROUP TO COMMIT $100 BILLION FOR AI DATA CENTRES THROUGH 2030
The ports-to-power Adani Group said on Tuesday it would invest $100 billion for renewable energy-powered AI data centres by 2035.
Adani said that the investment is expected to trigger an additional $150 billion across related industries, including server manufacturing and sovereign cloud platforms.
Together, this is projected to create a $250 billion AI infrastructure ecosystem in India over the decade, it added.
MICROSOFT TO INVEST $50 BILLION IN 'GLOBAL SOUTH' BY 2030
Microsoft MSFT.O on Wednesday said it is on pace to invest $50 billion by the end of the decade to help expand AI to countries across the 'Global South'.
The firm had unveiled $17.5 billion worth of AI investments in India last year.
INDIAN DATA CENTRE FIRM YOTTA COMMITS $2 BILLION FOR AI HUB
Yotta Data Services said on Wednesday it will build one of Asia's largest AI computing hubs using Nvidia's NVDA.O latest Blackwell Ultra chips, in a project costing more than $2 billion.
INDIAN IT SERVICES EXPORTER TCS SIGNS OPENAI AS DATA CENTRE CUSTOMER
Tata Consultancy Services TCS.NS has signed up ChatGPT parent OpenAI as its first customer for its data centre unit under the global AI infrastructure initiative Stargate, the companies said on Thursday.
INDIA'S L&T, NVIDIA TO BUILD INDIA'S LARGEST AI FACTORY
Infrastructure major Larsen & Toubro LART.NS announced a proposed venture with Nvidia to build AI-ready data centre infrastructure, advanced computing platforms, and ecosystem enablement required to support large-scale AI workloads.
(Reporting by Nandan Mandayam in Bengaluru; Editing by Raju Gopalakrishnan)
((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))
Feb 19 (Reuters) - Senior executives from global artificial intelligence firms joined world leaders in India this week for a major AI summit.
Here is a list of all the major deals struck during the India AI Impact Summit in New Delhi.
INDIA'S RELIANCE INDUSTRIES, JIO TO INVEST $110 BILLION
Conglomerate Reliance Industries RELI.NS and its telecom arm Jio will invest $109.8 billion over the next seven years to build artificial intelligence and data infrastructure, its billionaire chairman Mukesh Ambani said on Thursday.
INDIA'S ADANI GROUP TO COMMIT $100 BILLION FOR AI DATA CENTRES THROUGH 2030
The ports-to-power Adani Group said on Tuesday it would invest $100 billion for renewable energy-powered AI data centres by 2035.
Adani said that the investment is expected to trigger an additional $150 billion across related industries, including server manufacturing and sovereign cloud platforms.
Together, this is projected to create a $250 billion AI infrastructure ecosystem in India over the decade, it added.
MICROSOFT TO INVEST $50 BILLION IN 'GLOBAL SOUTH' BY 2030
Microsoft MSFT.O on Wednesday said it is on pace to invest $50 billion by the end of the decade to help expand AI to countries across the 'Global South'.
The firm had unveiled $17.5 billion worth of AI investments in India last year.
INDIAN DATA CENTRE FIRM YOTTA COMMITS $2 BILLION FOR AI HUB
Yotta Data Services said on Wednesday it will build one of Asia's largest AI computing hubs using Nvidia's NVDA.O latest Blackwell Ultra chips, in a project costing more than $2 billion.
INDIAN IT SERVICES EXPORTER TCS SIGNS OPENAI AS DATA CENTRE CUSTOMER
Tata Consultancy Services TCS.NS has signed up ChatGPT parent OpenAI as its first customer for its data centre unit under the global AI infrastructure initiative Stargate, the companies said on Thursday.
INDIA'S L&T, NVIDIA TO BUILD INDIA'S LARGEST AI FACTORY
Infrastructure major Larsen & Toubro LART.NS announced a proposed venture with Nvidia to build AI-ready data centre infrastructure, advanced computing platforms, and ecosystem enablement required to support large-scale AI workloads.
(Reporting by Nandan Mandayam in Bengaluru; Editing by Raju Gopalakrishnan)
((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))
Nvidia Says Co Partnering With Venture Capital Firms Including Peak XV, Elevation Capital, Accel India & Others To Identify & Fund AI Startups
Feb 17 (Reuters) - NVIDIA Corp NVDA.O:
NVIDIA: TECH MAHINDRA DEPLOYING LARGE TELCO MODEL TO POWER AUTONOMOUS NETWORK OPERATIONS USING NVIDIA NIM
NVIDIA: PERSISTENT ACCELERATES AI‑DRIVEN MOLECULAR DISCOVERY WITH NVIDIA BIONEMO AND NEMO AGENT TOOLKIT
NVIDIA: INFOSYS BUILDS AN ENTERPRISE-GRADE CODING SMALL LANGUAGE MODEL WITH NVIDIA AI ENTERPRISE
NVIDIA: RELIANCE NEW ENERGY EXPANDS COLLABORATION WITH CO & SIEMENS BY COMBINING SIEMENS’ DIGITAL TWIN TECHNOLOGY WITH CO'S OMNIVERSE LIBRARIES
NVIDIA: COLLABORATING WITH NEXT‑GENERATION CLOUD PROVIDERS YOTTA, L&T AND E2E NETWORKS
NVIDIA: DEVELOPERS BUILDING SOVEREIGN AI SYSTEMS CAN ACCESS NVIDIA NEMOTRON & NEMO TODAY
NVIDIA: TATA CONSULTING ENGINEERS LAUNCHES COGNITIVE TWIN PLATFORM, BUILT ON NVIDIA OMNIVERSE
NVIDIA: TO OFFER ANUSANDHAN NATIONAL RESEARCH FOUNDATION GRANTEE INSTITUTIONS COMPLIMENTARY ACCESS TO NVIDIA AI ENTERPRISE SOFTWARE
NVIDIA: PARTNERING WITH VENTURE CAPITAL FIRMS INCLUDING PEAK XV, ELEVATION CAPITAL, ACCEL INDIA & OTHERS TO IDENTIFY & FUND AI STARTUPS
Source text: [ID:]
Further company coverage: NVDA.O
Feb 17 (Reuters) - NVIDIA Corp NVDA.O:
NVIDIA: TECH MAHINDRA DEPLOYING LARGE TELCO MODEL TO POWER AUTONOMOUS NETWORK OPERATIONS USING NVIDIA NIM
NVIDIA: PERSISTENT ACCELERATES AI‑DRIVEN MOLECULAR DISCOVERY WITH NVIDIA BIONEMO AND NEMO AGENT TOOLKIT
NVIDIA: INFOSYS BUILDS AN ENTERPRISE-GRADE CODING SMALL LANGUAGE MODEL WITH NVIDIA AI ENTERPRISE
NVIDIA: RELIANCE NEW ENERGY EXPANDS COLLABORATION WITH CO & SIEMENS BY COMBINING SIEMENS’ DIGITAL TWIN TECHNOLOGY WITH CO'S OMNIVERSE LIBRARIES
NVIDIA: COLLABORATING WITH NEXT‑GENERATION CLOUD PROVIDERS YOTTA, L&T AND E2E NETWORKS
NVIDIA: DEVELOPERS BUILDING SOVEREIGN AI SYSTEMS CAN ACCESS NVIDIA NEMOTRON & NEMO TODAY
NVIDIA: TATA CONSULTING ENGINEERS LAUNCHES COGNITIVE TWIN PLATFORM, BUILT ON NVIDIA OMNIVERSE
NVIDIA: TO OFFER ANUSANDHAN NATIONAL RESEARCH FOUNDATION GRANTEE INSTITUTIONS COMPLIMENTARY ACCESS TO NVIDIA AI ENTERPRISE SOFTWARE
NVIDIA: PARTNERING WITH VENTURE CAPITAL FIRMS INCLUDING PEAK XV, ELEVATION CAPITAL, ACCEL INDIA & OTHERS TO IDENTIFY & FUND AI STARTUPS
Source text: [ID:]
Further company coverage: NVDA.O
Trishakti Industries Gets Order Worth 4.2 Million Rupees From L&T
Feb 17 (Reuters) - Larsen and Toubro Ltd LART.NS:
TRISHAKTI INDUSTRIES LTD - GET WORKER ORDER WORTH 4.2 MILLION RUPEES FROM L&T
Source text: ID:nnAZN4SH4H4
Further company coverage: LART.NS
Feb 17 (Reuters) - Larsen and Toubro Ltd LART.NS:
TRISHAKTI INDUSTRIES LTD - GET WORKER ORDER WORTH 4.2 MILLION RUPEES FROM L&T
Source text: ID:nnAZN4SH4H4
Further company coverage: LART.NS
India's Torrent Power to buy L&T's coal-plant operator for about $760 million
Adds background, details paragraph 2 onward
Feb 16 (Reuters) - India's Torrent Power TOPO.NS said on Monday it will buy a coal-fired power plant operator in northern India from Larsen & Toubro LART.NS for 68.89 billion rupees ($759.48 million) including debt as it seeks to build capacity in the region.
Larsen & Toubro, whose unit L&T Power Development will execute the deal, will receive 36.61 billion rupees for the sale of plant operator Nabha Power, it said in a separate statement.
Nabha operates a 1,400‑megawatt coal-fired plant in India's northern Punjab state and supplies all its electricity to the state power corporation under a 25‑year contract.
Torrent said it expects the deal to increase its operational capacity to 6.4 gigawatts from about 5 GW.
The deal adds to Torrent's recent push to scale up its thermal portfolio as power producers move to coal-based power capacity to meet rising electricity demand in India.
Last year, Torrent announced a $2.5 billion coal power project in central India and was evaluating plans to build 5–7 GW of capacity over the next decade.
"The acquisition marks Torrent's entry into the high-growth power market of northern India," Torrent Power's Chairman Samir Mehta said in a statement.
The deal will deliver "a meaningful uplift in the overall revenues and profitability," he added.
($1 = 90.7070 Indian rupees)
(Reporting by Yagnoseni Das in Bengaluru; Writing by Abinaya Vijayaraghavan; Editing by Rashmi Aich and Mrigank Dhaniwala)
Adds background, details paragraph 2 onward
Feb 16 (Reuters) - India's Torrent Power TOPO.NS said on Monday it will buy a coal-fired power plant operator in northern India from Larsen & Toubro LART.NS for 68.89 billion rupees ($759.48 million) including debt as it seeks to build capacity in the region.
Larsen & Toubro, whose unit L&T Power Development will execute the deal, will receive 36.61 billion rupees for the sale of plant operator Nabha Power, it said in a separate statement.
Nabha operates a 1,400‑megawatt coal-fired plant in India's northern Punjab state and supplies all its electricity to the state power corporation under a 25‑year contract.
Torrent said it expects the deal to increase its operational capacity to 6.4 gigawatts from about 5 GW.
The deal adds to Torrent's recent push to scale up its thermal portfolio as power producers move to coal-based power capacity to meet rising electricity demand in India.
Last year, Torrent announced a $2.5 billion coal power project in central India and was evaluating plans to build 5–7 GW of capacity over the next decade.
"The acquisition marks Torrent's entry into the high-growth power market of northern India," Torrent Power's Chairman Samir Mehta said in a statement.
The deal will deliver "a meaningful uplift in the overall revenues and profitability," he added.
($1 = 90.7070 Indian rupees)
(Reporting by Yagnoseni Das in Bengaluru; Writing by Abinaya Vijayaraghavan; Editing by Rashmi Aich and Mrigank Dhaniwala)
Larsen And Toubro Incorporates Subsidiary In Netherlands
Feb 10 (Reuters) - Larsen and Toubro Ltd LART.NS:
LARSEN AND TOUBRO - INCORPORATES SUBSIDIARY IN NETHERLANDS
Source text: ID:nBSEbQKkV4
Further company coverage: LART.NS
Feb 10 (Reuters) - Larsen and Toubro Ltd LART.NS:
LARSEN AND TOUBRO - INCORPORATES SUBSIDIARY IN NETHERLANDS
Source text: ID:nBSEbQKkV4
Further company coverage: LART.NS
Anthropic's AI push raises analyst concerns over Indian IT services revenues
Updates levels, adds graphic after paragraph 11
Feb 5 (Reuters) - Rapid advances in artificial intelligence, triggered in part by Anthropic's latest automation push, could structurally erode the IT sector's high-margin application services revenues, creating downside risks to earnings and valuations, analysts warn.
Shares in India's software exporters .NIFTYIT settled 0.6% lower on Thursday, a day after plunging 6% in their worst session for nearly six years, as AI-driven automation from U.S.-based Anthropic and Palantir fuelled fears of compressed project timelines and disruption to the industry's labour-intensive business model.
The weakness has echoed across global IT stocks this week, extending a broader selloff in companies seen as most exposed to potential AI disruption.
"There is more pain ahead for Indian IT," Jefferies said, adding that Anthropic's and Palantir's claims highlight how AI could potentially erode application service revenues for IT firms.
"With application services accounting for 40–70% of revenues, firms face growth pressures, and consensus growth estimates do not fully reflect this, posing downside risks to valuations."
DISRUPTION
Indian IT firms have been ramping up AI investments and re-skilling efforts, even as weak global tech spending, delayed client decision-making and pricing pressure have weighed on the sector. Foreign investors offloaded a record $8.5 billion worth of Indian IT stocks in 2025.
However, some analysts said the sharp selloff may be overdone.
JPMorgan said that while concerns around AI disruption were not without merit, it was illogical to extrapolate the launch of some tools to an expectation that companies will replace every layer of mission-critical enterprise software.
Domestic brokerage Kotak Institutional Equities described the decline as a case of "plenty of panic over a little flutter".
Among large IT firms, Tata Consultancy Services TCS.NS, Tech Mahindra TEML.NS and LTIMindtree LTIM.NS have higher exposure to application services, which account for about 55%–60% of revenues, while HCL Tech HCLT.NS has the lowest exposure at around 40%.
Their stocks fell between 4% and 7% % on Wednesday, and extended losses on Thursday.
Brokerage Motilal Oswal estimates that 9%-12% of industry revenues could be eliminated over the next four years due to AI-led disruption.
Jefferies expects AI to weigh on IT-sector revenue growth over the next one to two years, arguing that deflation in legacy service-line revenues will more than offset gains from AI-related opportunities.
The IT sub-index has lost 17% since the start of 2025, including Wednesday's selloff, and is on track for its worst week in over four months.
India's IT stocks underperform benchmark Nifty 50 since the start of 2025 https://reut.rs/45Jglkw
Revenue breakdown of top Indian IT companies by segment https://reut.rs/4avX34B
(Reporting by Kashish Tandon and Bharath Rajeswaran in Bengaluru; Writing by Chandini Monnappa; Editing by Mark Potter and Louise Heavens)
((Kashish.Tandon@thomsonreuters.com; 8800437922;))
Updates levels, adds graphic after paragraph 11
Feb 5 (Reuters) - Rapid advances in artificial intelligence, triggered in part by Anthropic's latest automation push, could structurally erode the IT sector's high-margin application services revenues, creating downside risks to earnings and valuations, analysts warn.
Shares in India's software exporters .NIFTYIT settled 0.6% lower on Thursday, a day after plunging 6% in their worst session for nearly six years, as AI-driven automation from U.S.-based Anthropic and Palantir fuelled fears of compressed project timelines and disruption to the industry's labour-intensive business model.
The weakness has echoed across global IT stocks this week, extending a broader selloff in companies seen as most exposed to potential AI disruption.
"There is more pain ahead for Indian IT," Jefferies said, adding that Anthropic's and Palantir's claims highlight how AI could potentially erode application service revenues for IT firms.
"With application services accounting for 40–70% of revenues, firms face growth pressures, and consensus growth estimates do not fully reflect this, posing downside risks to valuations."
DISRUPTION
Indian IT firms have been ramping up AI investments and re-skilling efforts, even as weak global tech spending, delayed client decision-making and pricing pressure have weighed on the sector. Foreign investors offloaded a record $8.5 billion worth of Indian IT stocks in 2025.
However, some analysts said the sharp selloff may be overdone.
JPMorgan said that while concerns around AI disruption were not without merit, it was illogical to extrapolate the launch of some tools to an expectation that companies will replace every layer of mission-critical enterprise software.
Domestic brokerage Kotak Institutional Equities described the decline as a case of "plenty of panic over a little flutter".
Among large IT firms, Tata Consultancy Services TCS.NS, Tech Mahindra TEML.NS and LTIMindtree LTIM.NS have higher exposure to application services, which account for about 55%–60% of revenues, while HCL Tech HCLT.NS has the lowest exposure at around 40%.
Their stocks fell between 4% and 7% % on Wednesday, and extended losses on Thursday.
Brokerage Motilal Oswal estimates that 9%-12% of industry revenues could be eliminated over the next four years due to AI-led disruption.
Jefferies expects AI to weigh on IT-sector revenue growth over the next one to two years, arguing that deflation in legacy service-line revenues will more than offset gains from AI-related opportunities.
The IT sub-index has lost 17% since the start of 2025, including Wednesday's selloff, and is on track for its worst week in over four months.
India's IT stocks underperform benchmark Nifty 50 since the start of 2025 https://reut.rs/45Jglkw
Revenue breakdown of top Indian IT companies by segment https://reut.rs/4avX34B
(Reporting by Kashish Tandon and Bharath Rajeswaran in Bengaluru; Writing by Chandini Monnappa; Editing by Mark Potter and Louise Heavens)
((Kashish.Tandon@thomsonreuters.com; 8800437922;))
Larsen & Toubro Limited Publishes Transcript of Q3 FY26 Earnings Conference Call
Larsen & Toubro Limited has published the transcript of its Q3 FY26 Earnings Conference Call, held on January 28, 2026. The event was attended by senior management, including the Deputy Managing Director and President, as well as the Head of Investor Relations. During the call, management highlighted the company’s robust performance, noting, “We witnessed our highest ever quarterly order inflows in Q3 FY '26 of Rs 1,356 billion, recording a 17% growth year-on-year, led by a strong ordering momentum witnessed across both India and overseas markets.” The discussion also covered the rebranding of the data center business to Larsen & Toubro-Vyoma and its expansion into hyperscale data centers in key Indian metros. Additionally, the company’s upgraded MSCI ESG rating and international recognition among top environmental firms were noted as significant achievements. The full transcript can be accessed through the link below.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Larsen & Toubro Limited published the original content used to generate this news brief on February 03, 2026, and is solely responsible for the information contained therein.
Larsen & Toubro Limited has published the transcript of its Q3 FY26 Earnings Conference Call, held on January 28, 2026. The event was attended by senior management, including the Deputy Managing Director and President, as well as the Head of Investor Relations. During the call, management highlighted the company’s robust performance, noting, “We witnessed our highest ever quarterly order inflows in Q3 FY '26 of Rs 1,356 billion, recording a 17% growth year-on-year, led by a strong ordering momentum witnessed across both India and overseas markets.” The discussion also covered the rebranding of the data center business to Larsen & Toubro-Vyoma and its expansion into hyperscale data centers in key Indian metros. Additionally, the company’s upgraded MSCI ESG rating and international recognition among top environmental firms were noted as significant achievements. The full transcript can be accessed through the link below.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Larsen & Toubro Limited published the original content used to generate this news brief on February 03, 2026, and is solely responsible for the information contained therein.
India's Thermax posts higher profit on strong order wins
Feb 2 (Reuters) - Indian engineering firm Thermax THMX.NS posted a 76% rise in its third-quarter profit on Monday, aided by strong order wins.
The Pune-based firm's consolidated net profit rose to 2.04 billion rupees ($22.28 million) for the quarter ended December 31 from 1.16 billion rupees a year ago.
Thermax operates in India's capital goods sector, supplying industrial equipment and systems to power, clean energy and manufacturing clients.
Healthy industrial demand and robust execution likely supported revenues for capital goods companies during the quarter, with orders led by power generation, transmission and distribution and EPC projects, analysts at Elara Capital said in a pre-earnings note.
Thermax's order bookings for the third quarter jumped 34% to 30.80 billion rupees, driven by improved performance in its two key segments, supported by better demand and stronger exports.
The industrial machine maker's quarterly revenue rose 4.2% to 26.35 billion rupees, as revenue from its industrial products segment - its largest - climbed 18%.
The segment delivers equipment for core industrial operations such as boilers, chillers and heating equipment.
Industrial Infra - Thermax's second-largest segment, which includes large-scale infrastructure and energy projects - posted a decline of 9.4% in its third-quarter revenue.
Thermax's bottom line also included exceptional gains of about 59 million rupees on a net basis from the reversal of provisions and related interest income, the company said.
Its shares closed 2% lower on Monday ahead of the results.
($1 = 91.5770 Indian rupees)
(Reporting by Aleef Jahan in Bengaluru; Editing by Ronojoy Mazumdar and Shreya Biswas)
Feb 2 (Reuters) - Indian engineering firm Thermax THMX.NS posted a 76% rise in its third-quarter profit on Monday, aided by strong order wins.
The Pune-based firm's consolidated net profit rose to 2.04 billion rupees ($22.28 million) for the quarter ended December 31 from 1.16 billion rupees a year ago.
Thermax operates in India's capital goods sector, supplying industrial equipment and systems to power, clean energy and manufacturing clients.
Healthy industrial demand and robust execution likely supported revenues for capital goods companies during the quarter, with orders led by power generation, transmission and distribution and EPC projects, analysts at Elara Capital said in a pre-earnings note.
Thermax's order bookings for the third quarter jumped 34% to 30.80 billion rupees, driven by improved performance in its two key segments, supported by better demand and stronger exports.
The industrial machine maker's quarterly revenue rose 4.2% to 26.35 billion rupees, as revenue from its industrial products segment - its largest - climbed 18%.
The segment delivers equipment for core industrial operations such as boilers, chillers and heating equipment.
Industrial Infra - Thermax's second-largest segment, which includes large-scale infrastructure and energy projects - posted a decline of 9.4% in its third-quarter revenue.
Thermax's bottom line also included exceptional gains of about 59 million rupees on a net basis from the reversal of provisions and related interest income, the company said.
Its shares closed 2% lower on Monday ahead of the results.
($1 = 91.5770 Indian rupees)
(Reporting by Aleef Jahan in Bengaluru; Editing by Ronojoy Mazumdar and Shreya Biswas)
INDIA BUDGET-India raises infrastructure spending by 11.4% to record 12.2 trillion rupees for 2026-27
Adds revised estimates
By Ashwin Manikandan and Komal Salecha
MUMBAI, Feb 1 (Reuters) - India's federal government will spend a record 12.2 trillion rupees ($133.08 billion) on infrastructure in fiscal year 2027, an 11.4% annual rise, as Asia's third-biggest economy pledged to accelerate growth amid a volatile global environment.
India has significantly raised infrastructure spending after the COVID-19 pandemic, aiming to boost economic growth and create more jobs in the world's most-populous country. The federal budget, presented on Sunday by Finance Minister Nirmala Sitharaman, made a fresh bet on the country's manufacturing sector.
The government's capex plan for the ongoing fiscal year ending March 2026 was revised to 10.95 trillion rupees, as per revised estimates in the budget documents. This is lower than the 11.21 trillion rupees earmarked for the year, which was the highest on record back then.
"The capex outlay for fiscal year 2027 looks a bit modest and misses market expectations slightly, but overall, a positive for the manufacturing sector. It will also be good for private sector capex," said Amit Anwani, an analyst at Prabhudas Lilladher.
Shares of capital goods companies such as Larsen & Toubro LART.NS, IRB Infra IRBI.NS, NBCC NBCC.NS, Action Construction ACEL.NS jumped between 1.3% and 4% on higher capex spending and announcements to scale up infrastructure development.
India's economy has so far withstood punitive U.S. tariffs imposed by President Donald Trump. Economic growth for the current fiscal year has been forecast at 7.4%, with the help of government infrastructure spending and income and consumption tax cuts.
($1 = 91.6710 Indian rupees)
India expenditure proposed at 53.5 trillion rupees for FY 2026-27 https://reut.rs/3LZQNJe
(Reporting by Ashwin Manikandan and Komal Salecha; Editing by Janane Venkatraman)
Adds revised estimates
By Ashwin Manikandan and Komal Salecha
MUMBAI, Feb 1 (Reuters) - India's federal government will spend a record 12.2 trillion rupees ($133.08 billion) on infrastructure in fiscal year 2027, an 11.4% annual rise, as Asia's third-biggest economy pledged to accelerate growth amid a volatile global environment.
India has significantly raised infrastructure spending after the COVID-19 pandemic, aiming to boost economic growth and create more jobs in the world's most-populous country. The federal budget, presented on Sunday by Finance Minister Nirmala Sitharaman, made a fresh bet on the country's manufacturing sector.
The government's capex plan for the ongoing fiscal year ending March 2026 was revised to 10.95 trillion rupees, as per revised estimates in the budget documents. This is lower than the 11.21 trillion rupees earmarked for the year, which was the highest on record back then.
"The capex outlay for fiscal year 2027 looks a bit modest and misses market expectations slightly, but overall, a positive for the manufacturing sector. It will also be good for private sector capex," said Amit Anwani, an analyst at Prabhudas Lilladher.
Shares of capital goods companies such as Larsen & Toubro LART.NS, IRB Infra IRBI.NS, NBCC NBCC.NS, Action Construction ACEL.NS jumped between 1.3% and 4% on higher capex spending and announcements to scale up infrastructure development.
India's economy has so far withstood punitive U.S. tariffs imposed by President Donald Trump. Economic growth for the current fiscal year has been forecast at 7.4%, with the help of government infrastructure spending and income and consumption tax cuts.
($1 = 91.6710 Indian rupees)
India expenditure proposed at 53.5 trillion rupees for FY 2026-27 https://reut.rs/3LZQNJe
(Reporting by Ashwin Manikandan and Komal Salecha; Editing by Janane Venkatraman)
India's L&T Exec Says Well Positioned To Exceed FY26 Order Guidance
Jan 28 (Reuters) - Larsen and Toubro Ltd LART.NS:
WELL POSITIONED TO EXCEED FY26 ORDER GUIDANCE
4 OF 5 KUWAIT TENDER PROJECTS PAUSED, DOES NOT IMPACT ORDER BOOK
CONFIDENT THAT THESE 4 KUWAIT PROJECTS WILL BE RESTARTED IN THIS CALENDAR YEAR
HAD MORE DOMESTIC ORDERS IN Q3 DUE TO INCREASED ORDERS FROM PVT SECTOR
Further company coverage: LART.NS
Jan 28 (Reuters) - Larsen and Toubro Ltd LART.NS:
WELL POSITIONED TO EXCEED FY26 ORDER GUIDANCE
4 OF 5 KUWAIT TENDER PROJECTS PAUSED, DOES NOT IMPACT ORDER BOOK
CONFIDENT THAT THESE 4 KUWAIT PROJECTS WILL BE RESTARTED IN THIS CALENDAR YEAR
HAD MORE DOMESTIC ORDERS IN Q3 DUE TO INCREASED ORDERS FROM PVT SECTOR
Further company coverage: LART.NS
India's LTIMindtree set for biggest two-day slump in over 1 year
** India's LTIMindtree LTIM.NS slides 2.6% to 5,804.50 rupees, taking its two-day slump to 9.1%
** Stock set for biggest two-day slump since December 2024
** Drop after India's no. 6 IT firm reports lower Q3 profit with analysts flagging growth pressures and limited scope for margins expansion over FY26-28
** Citi analysts forecast 100 bps impact on LTIM's Q4 and Q1 margins due to wage hikes
** LTIM down 4.3% in January vs IT index's 0.6% drop
(Reporting by Kashish Tandon in Bengaluru)
** India's LTIMindtree LTIM.NS slides 2.6% to 5,804.50 rupees, taking its two-day slump to 9.1%
** Stock set for biggest two-day slump since December 2024
** Drop after India's no. 6 IT firm reports lower Q3 profit with analysts flagging growth pressures and limited scope for margins expansion over FY26-28
** Citi analysts forecast 100 bps impact on LTIM's Q4 and Q1 margins due to wage hikes
** LTIM down 4.3% in January vs IT index's 0.6% drop
(Reporting by Kashish Tandon in Bengaluru)
India's LTIMindtree slips to over one-week low after quarterly profit fall
** Shares of LTIMindtree LTIM.NS fell as much as 7.6% to a more than one-week low of 5,979.50 rupees, last down 6.2%
** Top loser on Indian IT index .NIFTYIT, which is down 1.2%
** Co reported an 8.3% fall in Q3 profit, hit by a one-off impact from newly enacted labour codes; Q3 revenue up 11.6% -in line with estimates
** LTIM's key verticals and top clients continue to face growth pressures, Jefferies says
** Given the ongoing productivity passthrough, see limited scope for margins to expand over FY26-28 and expect LTIM's EBIT margins to remain range bound at 15.5% levels - Jefferies
** Analysts tracking LTIM rate it "hold" on average - data compiled by LSEG
** Stock rose 8.6% last year
(Reporting by Brijesh Patel in Bengaluru)
((Brijesh.Patel1@thomsonreuters.com; Ph no. +91 9590227221;))
** Shares of LTIMindtree LTIM.NS fell as much as 7.6% to a more than one-week low of 5,979.50 rupees, last down 6.2%
** Top loser on Indian IT index .NIFTYIT, which is down 1.2%
** Co reported an 8.3% fall in Q3 profit, hit by a one-off impact from newly enacted labour codes; Q3 revenue up 11.6% -in line with estimates
** LTIM's key verticals and top clients continue to face growth pressures, Jefferies says
** Given the ongoing productivity passthrough, see limited scope for margins to expand over FY26-28 and expect LTIM's EBIT margins to remain range bound at 15.5% levels - Jefferies
** Analysts tracking LTIM rate it "hold" on average - data compiled by LSEG
** Stock rose 8.6% last year
(Reporting by Brijesh Patel in Bengaluru)
((Brijesh.Patel1@thomsonreuters.com; Ph no. +91 9590227221;))
India's LTIMindtree posts quarterly profit fall on labour code charges
Adds details on deal wins in paragraph 5, analyst comment in paragraph 6
BENGALURU, Jan 19 (Reuters) - India's LTIMindtree LTIM.NS reported an 8.3% fall in third-quarter profit on Monday, hit by a one-off impact from newly enacted labour codes.
Net profit at the country's sixth-largest IT firm fell to 9.71 billion rupees ($106.76 million) in the three months ended December 31, mainly on account of charges of about 5.9 billion rupees linked to new labour regulations.
Implemented in November, the new codes - India's biggest overhaul of workers' laws in decades - have dragged the profit of firms in India's manpower-heavy IT sector, including that of Wipro WIPR.NS, TCS TCS.NS and HCLTech HCLT.NS.
LTIMindtree's revenue rose 11.6% to 107.81 billion rupees, in line with estimates of 107.31 billion
Its total order bookings stood at a record $1.69 billion, surpassing the year ago quarter's $1.68 billion. Reuters had reported that the company won its largest-ever deal , pegged at $580 million, in October.
"The numbers look good in terms of margins, revenue and hiring as well. The company has managed weakness from top-5 clients from growing in other areas and rest of the clients," said Karan Uppal, lead analyst at Phillip Capital.
Revenue in the banking, financial services and insurance (BFSI) sector, which accounts for about one-third of its overall revenue, grew 2.3%.
Its consumer unit rose 14.6%, the most among the five business segments.
Last week, larger rival Infosys signaled a healthy demand outlook, especially in the core financial services segment.
($1 = 90.9120 Indian rupees)
(Reporting by Sai Ishwarbharath B; Editing by Janane Venkatraman)
Adds details on deal wins in paragraph 5, analyst comment in paragraph 6
BENGALURU, Jan 19 (Reuters) - India's LTIMindtree LTIM.NS reported an 8.3% fall in third-quarter profit on Monday, hit by a one-off impact from newly enacted labour codes.
Net profit at the country's sixth-largest IT firm fell to 9.71 billion rupees ($106.76 million) in the three months ended December 31, mainly on account of charges of about 5.9 billion rupees linked to new labour regulations.
Implemented in November, the new codes - India's biggest overhaul of workers' laws in decades - have dragged the profit of firms in India's manpower-heavy IT sector, including that of Wipro WIPR.NS, TCS TCS.NS and HCLTech HCLT.NS.
LTIMindtree's revenue rose 11.6% to 107.81 billion rupees, in line with estimates of 107.31 billion
Its total order bookings stood at a record $1.69 billion, surpassing the year ago quarter's $1.68 billion. Reuters had reported that the company won its largest-ever deal , pegged at $580 million, in October.
"The numbers look good in terms of margins, revenue and hiring as well. The company has managed weakness from top-5 clients from growing in other areas and rest of the clients," said Karan Uppal, lead analyst at Phillip Capital.
Revenue in the banking, financial services and insurance (BFSI) sector, which accounts for about one-third of its overall revenue, grew 2.3%.
Its consumer unit rose 14.6%, the most among the five business segments.
Last week, larger rival Infosys signaled a healthy demand outlook, especially in the core financial services segment.
($1 = 90.9120 Indian rupees)
(Reporting by Sai Ishwarbharath B; Editing by Janane Venkatraman)
Larsen And Toubro Unit Wins Large Order From Petronet LNG
Jan 16 (Reuters) - Larsen and Toubro Ltd LART.NS:
UNIT WINS LARGE ORDER FROM PETRONET LNG
ORDER WORTH BETWEEN 25 TO 50 BILLION RUPEES
Source text: ID:nBSE5RF9Xn
Further company coverage: LART.NS
Jan 16 (Reuters) - Larsen and Toubro Ltd LART.NS:
UNIT WINS LARGE ORDER FROM PETRONET LNG
ORDER WORTH BETWEEN 25 TO 50 BILLION RUPEES
Source text: ID:nBSE5RF9Xn
Further company coverage: LART.NS
Larsen And Toubro Secures Large Order From Torrent Energy Storage Solutions
Jan 14 (Reuters) - Larsen and Toubro Ltd LART.NS:
SECURES LARGE ORDER FROM TORRENT ENERGY STORAGE SOLUTIONS
SECURES LARGE CONTRACT FOR HEAVY CIVIL INFRASTRUCTURE BUSINESS
ORDER SIZE BETWEEN 25 BILLION RUPEES TO 50 BILLION RUPEES
Source text: ID:nBSE6X3SHS
Further company coverage: LART.NS
Jan 14 (Reuters) - Larsen and Toubro Ltd LART.NS:
SECURES LARGE ORDER FROM TORRENT ENERGY STORAGE SOLUTIONS
SECURES LARGE CONTRACT FOR HEAVY CIVIL INFRASTRUCTURE BUSINESS
ORDER SIZE BETWEEN 25 BILLION RUPEES TO 50 BILLION RUPEES
Source text: ID:nBSE6X3SHS
Further company coverage: LART.NS
Larsen And Toubro Clarifies Report On Kuwait Cancelling Oil Project Tenders
Jan 13 (Reuters) - Larsen and Toubro Ltd LART.NS:
ISSUES CLARIFICATION ON REPORT KUWAIT CANCELS OIL PROJECT TENDERS
CLARIFY THAT PROJECTS REFERRED TO IN SAID REPORT WERE NOT PART OF COMPANY’S ORDER BOOK
PROJECTS REFERRED TO IN THE SAID REPORT WERE NOT PART OF THE COMPANY’S ORDER BOOK
CAN’T COMMENT ON STATUS OF TENDERS OR COMMERCIAL DECISIONS OF CLIENTS
Source text: ID:nnAZN4RXRHO
Further company coverage: LART.NS
Jan 13 (Reuters) - Larsen and Toubro Ltd LART.NS:
ISSUES CLARIFICATION ON REPORT KUWAIT CANCELS OIL PROJECT TENDERS
CLARIFY THAT PROJECTS REFERRED TO IN SAID REPORT WERE NOT PART OF COMPANY’S ORDER BOOK
PROJECTS REFERRED TO IN THE SAID REPORT WERE NOT PART OF THE COMPANY’S ORDER BOOK
CAN’T COMMENT ON STATUS OF TENDERS OR COMMERCIAL DECISIONS OF CLIENTS
Source text: ID:nnAZN4RXRHO
Further company coverage: LART.NS
Vantris Energy Says Unit To Dispose 40% Equity In L&T-Sapura Shipping
Jan 12 (Reuters) - Vantris Energy Bhd VANT.KL:
UNIT TO DISPOSE 40% EQUITY IN L&T-SAPURA SHIPPING
SALE CONSIDERATION OF INR 1.22 BILLION
TO RECORD GAIN ON DISPOSAL 24.7 MILLION RGT
Further company coverage: VANT.KL
Jan 12 (Reuters) - Vantris Energy Bhd VANT.KL:
UNIT TO DISPOSE 40% EQUITY IN L&T-SAPURA SHIPPING
SALE CONSIDERATION OF INR 1.22 BILLION
TO RECORD GAIN ON DISPOSAL 24.7 MILLION RGT
Further company coverage: VANT.KL
Larsen And Toubro Announces Partnership With Indian Army
Jan 8 (Reuters) - Larsen and Toubro Ltd LART.NS:
PARTNERSHIP BETWEEN L&T AND INDIAN ARMY
PARTNERSHIP FOR OVERHAUL, UPGRADE, OBSOLESCENCE MANAGEMENT OF PINAKA ROCKET SYSTEMS
Source text: ID:nnAZN4RSBUQ
Further company coverage: LART.NS
Jan 8 (Reuters) - Larsen and Toubro Ltd LART.NS:
PARTNERSHIP BETWEEN L&T AND INDIAN ARMY
PARTNERSHIP FOR OVERHAUL, UPGRADE, OBSOLESCENCE MANAGEMENT OF PINAKA ROCKET SYSTEMS
Source text: ID:nnAZN4RSBUQ
Further company coverage: LART.NS
India's LTIMindtree falls; Citi flags growth, margin risks
** Shares of LTIMindtree Ltd LTIM.NS fall as much as 1.5% to 5,970 rupees
** Citi Research opens a 30-day catalyst watch, says double-digit revenue growth, margin improvement may be hard to sustain amid sector pressures and premium valuations
** Adds, with valuations near 29 times FY27 earnings and at a premium to large caps, the risk-reward looks unattractive after recent outperformance
** Despite continued global economic growth, Indian IT rev growth remains sluggish, says Citi
** Q3 focus will likely be on pace of recovery and in hope of pickup in IT spends in areas beyond AI
** Mean rating of stock is 'hold'; median PT is 5,880 rupees - data compiled by LSEG
** LTIM last down 0.9%; gained ~8.6% in 2025
(Reporting by Meenakshi Maidas in Bengaluru)
** Shares of LTIMindtree Ltd LTIM.NS fall as much as 1.5% to 5,970 rupees
** Citi Research opens a 30-day catalyst watch, says double-digit revenue growth, margin improvement may be hard to sustain amid sector pressures and premium valuations
** Adds, with valuations near 29 times FY27 earnings and at a premium to large caps, the risk-reward looks unattractive after recent outperformance
** Despite continued global economic growth, Indian IT rev growth remains sluggish, says Citi
** Q3 focus will likely be on pace of recovery and in hope of pickup in IT spends in areas beyond AI
** Mean rating of stock is 'hold'; median PT is 5,880 rupees - data compiled by LSEG
** LTIM last down 0.9%; gained ~8.6% in 2025
(Reporting by Meenakshi Maidas in Bengaluru)
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What does Larsen & Toubro do?
Larsen & Toubro (L&T) is a technology, engineering and construction company with global operations. It is one of the largest and most respected companies in India’s private sector. In the Engineering & Construction business, L&T operates as a contractor in key verticals including process industries, oil and gas, infrastructure, power, minerals, nuclear power and aerospace, water, civil structures, etc. It also undertakes turnkey projects in these fields.
Who are the competitors of Larsen & Toubro?
Larsen & Toubro major competitors are GMR Airports, NBCC (India), Engineers India, Cemindia Projects, NCC, ISGEC Heavy Engg., Welspun Enterprises. Market Cap of Larsen & Toubro is ₹4,97,119 Crs. While the median market cap of its peers are ₹9,277 Crs.
Is Larsen & Toubro financially stable compared to its competitors?
Larsen & Toubro seems to be less financially stable compared to its competitors. Altman Z score of Larsen & Toubro is 2.39 and is ranked 7 out of its 8 competitors.
Does Larsen & Toubro pay decent dividends?
The company seems to pay a good stable dividend. Larsen & Toubro latest dividend payout ratio is 31.09% and 3yr average dividend payout ratio is 33.03%
How has Larsen & Toubro allocated its funds?
Companies resources are allocated to majorly unproductive assets like Cash & Short Term Investments
How strong is Larsen & Toubro balance sheet?
Balance sheet of Larsen & Toubro is moderately strong.
Is the profitablity of Larsen & Toubro improving?
Yes, profit is increasing. The profit of Larsen & Toubro is ₹18,975 Crs for TTM, ₹15,037 Crs for Mar 2025 and ₹13,059 Crs for Mar 2024.
Is the debt of Larsen & Toubro increasing or decreasing?
Yes, The net debt of Larsen & Toubro is increasing. Latest net debt of Larsen & Toubro is ₹1,11,926 Crs as of Sep-25. This is greater than Mar-25 when it was ₹84,314 Crs.
Is Larsen & Toubro stock expensive?
Larsen & Toubro is not expensive. Latest PE of Larsen & Toubro is 30.58, while 3 year average PE is 32.83. Also latest EV/EBITDA of Larsen & Toubro is 17.11 while 3yr average is 17.42.
Has the share price of Larsen & Toubro grown faster than its competition?
Larsen & Toubro has given better returns compared to its competitors. Larsen & Toubro has grown at ~17.18% over the last 10yrs while peers have grown at a median rate of 9.36%
Is the promoter bullish about Larsen & Toubro?
There is Insufficient data to gauge this.
Are mutual funds buying/selling Larsen & Toubro?
The mutual fund holding of Larsen & Toubro is decreasing. The current mutual fund holding in Larsen & Toubro is 20.37% while previous quarter holding is 20.55%.