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MUMBAI, May 26 (Reuters) - India's L&T Finance LTFL.NS has accepted bids worth 15 billion rupees ($176.33 million) for bonds maturing in two years and one month and reissue of 7.59% June 2028 bonds, three bankers said on Monday.

The company will pay an annual coupon of 7.2092% on the fresh issue and will offer a yield of 7.2509% on the reissue and had invited bids from bankers and investors earlier in the day, they said.

L&T Finance did not reply to a Reuters email seeking comment.

Here is the list of deals reported so far on May 26:

* Size includes base plus greenshoe for some issues

($1 = 85.0700 Indian rupees)

(Reporting by Dharamraj Dhutia)

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MUMBAI, May 23 (Reuters) - India's L&T Finance LTFL.NS plans to raise 15 billion rupees ($174.75 million), which includes a greenshoe option of 5 billion rupees through sale of bonds maturing in two year and one month and reissue of 7.59% June 2028 bonds, three bankers said on Friday.

The company has invited bids from bankers and investors on Monday, they said.

L&T Finance did not reply to a Reuters email seeking comment.

Here is the list of deals reported so far on May 23:

*Size includes base plus greenshoe for some issues

($1 = 85.8350 Indian rupees)

(Reporting by Dharamraj Dhutia;Editing by Nivedita Bhattacharjee)

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Adds details, background and shares from paragraph 2

May 12 (Reuters) - Indian software services exporter LTIMindtree LTIM.NS bagged a $450 million multi-year deal, its largest ever, the company said on Monday.

Its shares rose as much as 7.7%. They were trading about 6% higher before the news, tracking a broader IT sector rally on easing global recession worries.

LTIMindtree said the customer was a global agribusiness company, without disclosing the name.

The deal comes at a time when larger peers are struggling to secure mega deals as macroeconomic uncertainties and tariff risks weighed on India's $283 billion IT sector.

Large deals are key revenue drivers for IT services companies.

Last month, the company reported fourth quarter revenue that marginally missed estimates.

(Reporting by Nandan Mandayam in Bengaluru, additional reporting by Sai Ishwarbharath B; Editing by Mrigank Dhaniwala)

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May 8 (Reuters) - Larsen and Toubro Ltd LART.NS:

• Q4 CONSOL NET PAT 54.97 BILLION RUPEES; IBES PROFIT EST. 49.98 BILLION RUPEES

• Q4 CONSOL REV FROM OPS 743.92 BLN RUPEES; IBES EST. 763.15 BLN RUPEES

• DIVIDEND 34 RUPEES PER SHARE

Source text: [ID:]

Further company coverage: LART.NS

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MUMBAI, April 25 (Reuters) - India's L&T Metro Rail (Hyderabad) has accepted bids worth 28.72 billion rupees ($336.3 million) for bonds maturing in 10 years, three bankers said on Friday.

It will pay a coupon of 7.55% on this issue and had invited bids earlier in the day, they said.

The company confirmed the details of the bond issue.

Here is the list of deals reported so far on April 25:

*Size includes base plus greenshoe for some issues

($1 = 85.4100 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Mrigank Dhaniwala)

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MUMBAI, April 24 (Reuters) - India's L&T Metro Rail (Hyderabad) plans to raise 28.72 billion rupees ($335.57 million), through the sale of bonds maturing in 10 years, three bankers said on Thursday.

It has invited coupon and commitment bids for the issue on Friday, they said.

The company did not reply to a Reuters email seeking comment.

Here is the list of deals reported so far on April 24:

*Size includes base plus greenshoe for some issues

($1 = 85.5860 Indian rupees)

(Reporting by Khushi Malhotra and Dharamraj Dhutia
Editing by)

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BENGALURU, April 23 (Reuters) - India's No.6 software services exporter LTIMindtree LTIM.NS on Wednesday marginally missed quarterly earnings estimates due to a revenue decline in its healthcare and consumer segments.

The company posted consolidated revenue of 97.72 billion rupees ($1.14 billion) for the quarter ended March 31, up 10% year-on-year, but below the analysts' average estimate of 98.57 billion rupees, according to LSEG data.

Its peers, Tata Consultancy Services TCS.NS and Infosys INFY.NS, have previously flagged a difficult year ahead, as global economic uncertainty and cautious client spending further impact the sector.

The Indian IT sector, valued at $283 billion, is facing challenges due to U.S. President Donald Trump's unpredictable tariff policies, which are causing uncertainty and delays in technology spending decisions among its major clients.

Indian IT companies expect retail and manufacturing clients to be more exposed to the tariff turmoil and may resort to cost-cutting if uncertainty persists.

The company's quarterly profit rose 2.5% to 11.29 billion rupees, while analysts, on average, were expecting a profit of 11.58 billion rupees.

Revenue at its healthcare and consumer verticals fell during the quarter by 16.2% and 1.9%, respectively. Its largest vertical, banking, financial services and insurance, grew 12%.

LTIMindtree's revenue from North America, which accounts for nearly 75% of its total, grew 6.8%, whereas its Europe market declined 1.5%.

"Our key verticals and a major geography drove our yearly growth despite an ongoing challenging macro environment," said Debashis Chatterjee, CEO, in a statement.

Its deal wins stood at $1.6 billion versus $1.68 billion in the previous quarter and $1.43 billion in the year-ago period.

The company's shares closed 5% higher ahead of the results.

($1 = 85.3880 Indian rupees)

(Reporting by Haripriya Suresh and Sai Ishwarbharath B; Editing by Vijay Kishore)

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MUMBAI, April 11 (Reuters) - India's L&T Finance LTFL.NS has accepted bids worth an aggregate of 10 billion rupees ($116.2 million) for multiple tenor bonds, three bankers said on Friday.

The company will reissue 7.7989% March 2030 bonds at a yield of 7.5904%, and will sell fresh three-year and two-month bonds at a coupon of 7.5934%, they said.

L&T Finance did not reply to a Reuters email seeking comment.

Here is the list of deals reported so far on April 11:

*Size includes base plus greenshoe for some issues

($1 = 86.0675 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Varun H K)

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OSLO, April 10 (Reuters) - Norway's sovereign wealth fund, the world's largest, has a long-term investment strategy that is widely agreed upon, and will remain calm in the face of turbulent times, the finance ministry said in a strategy update on Thursday.

(Reporting by Terje Solsvik, editing by Louise Rasmussen)

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MUMBAI, April 9 (Reuters) - India's L&T Finance LTFL.NS plans to raise 10 billion rupees ($116 million), including a greenshoe option of 8 billion rupees, through sale of multiple tenor bonds, three bankers said on Wednesday.

L&T Finance will reissue 7.7989% March 2030 bonds and will sell fresh three-year and two-month bonds at a coupon of 7.5934%, they said.

The company did not reply to a Reuters email seeking comment.

Here is the list of deals reported so far on April 9:

*Size includes base plus greenshoe for some issues

($1 = 86.2400 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)

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April 7 (Reuters) - Trishakti Industries Ltd TELI.BO:

• TRISHAKTI INDUSTRIES LTD - SECURES SIGNIFICANT CONTRACT FROM L&T

• TRISHAKTI INDUSTRIES LTD - CONTRACT WORTH 25 MILLION RUPEES

Source text: ID:nBSE4mkz8f

Further company coverage: TELI.BO

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March 26 (Reuters) - Larsen and Toubro Ltd LART.NS:

• WINS LARGEST SINGLE CONTRACT FROM QATARENERGY LNG

• GOT ORDER WORTH OVER 150 BILLION RUPEES

Source text: ID:nBSE6R58Dy

Further company coverage: LART.NS

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March 25 (Reuters) - Larsen and Toubro Ltd LART.NS:

• LARSEN AND TOUBRO - L&T-CLOUDFINITI FORMS STRATEGIC PARTNERSHIPS WITH AI STARTUPS

• LARSEN AND TOUBRO LTD - L&T-CLOUDFINITI PARTNERS WITH HANOOMAN AI, COROVER, AND PIDIMA AI

• LARSEN AND TOUBRO LTD - COLLABORATIONS TO FOCUS ON HEALTHCARE, LIFE SCIENCES, VERTICAL AI

Source text: ID:nBSE2nVhjW

Further company coverage: LART.NS

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March 24 (Reuters) - Seamec Ltd SEAM.NS:

• L&T AWARDS LOA TO CONSORTIUM OF SEAMEC AND POSH INDIA OFFSHORE

Source text: ID:nNSE7XngKT

Further company coverage: SEAM.NS

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March 21 (Reuters) - Larsen and Toubro Ltd LART.NS:

• LARSEN AND TOUBRO - SUBRAMANIAN SARMA ELEVATED AS DEPUTY MANAGING DIRECTOR & PRESIDENT

Source text: ID:nnAPN2PH6MF

Further company coverage: LART.NS

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Corrects paragraph 9 in March 5 story to say each rocket, not each booster, costs about $30 million.

By Nivedita Bhattacharjee

BENGALURU, March 5 (Reuters) - The Indian industrial conglomerate Larsen & Toubro LART.NS said it is betting on aerospace as a potential growth engine, including launch vehicle and satellite manufacturing, as the country cuts reliance on imports and boosts private participation.

L&T, considered a bellwether for India's infrastructure spending because of how many industries its work touches, is the country's largest private-sector defense manufacturer by revenue; its Precision Engineering and Systems unit posted revenue of 46.10 billion rupees ($548.3 million) in the 2024 fiscal year, up 41% from the previous year.

At its factory in Coimbatore, in the southern Indian state of Tamil Nadu, L&T is assembling the country's first privately built Polar Satellite Launch Vehicle (PSLV), a mainstay of ISRO's launch programme, through a consortium with Hindustan Aeronautics Limited HIAE.NS. It is also building equipment for ISRO's other deep space exploration programs.

The company hopes to scale up its space business amid India's privatization push, which has eased foreign investment limits and allocated a larger share of procurement budgets away from state-run enterprises.

"We have decades of experience in high-tech manufacturing, critical systems, and scaling up production. The same expertise applies to aerospace," AT Ramchandani, senior vice president and head of L&T's Precision Engineering and Systems, told Reuters in an interview at the factory.

Walking through the facility, amid workers building heat shields and other rocket components, he said the global launch vehicle market was expected to hit about $160 billion over the next decade. The Indian government has set a target of reaching $44 billion for the country's commercial space sector in that time. India's space sector is valued at $13 billion, according to a February report by research firm DAM Capital.

L&T's plans intersect with India's strategy to position the country as a leading space power, with Prime Minister Modi's government pushing for the industry to become a force for further economic growth.

The country hopes liberalized regulations allowing private firms to design, build and operate launch services will attract global players, mirroring the commercial space boom seen in the United States and Europe.

The first launch of a privately built PSLV booster, delayed from early 2025, is expected to occur by mid-year, though an exact date had not yet been decided, Ramchandani said. Each rocket costs about $30 million.

"Clearly when we are getting into a business like this, it is with an eye to the global market," Ramchandani said. "There’s demand for timely and cost-effective launches, especially as satellite constellations grow. If we can provide availability, reliability, and cost advantages, India can be competitive."

(Reporting by Nivedita Bhattacharjee in Bengaluru. Editing by Gerry Doyle)

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March 5 (Reuters) - Larsen and Toubro Ltd LART.NS:

• SECURES SIGNIFICANT ORDERS FOR RESIDENTIAL TOWERS IN MUMBAI, BANGALORE, CHENNAI

• GETS ORDER WORTH BETWEEN 10-25 BILLION RUPEES

Source text: ID:nBSE3vN3Mb

Further company coverage: LART.NS

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March 4 (Reuters) - Ultracab (India) Ltd ULTA.BO:

• RECEIVED APPROVALS FROM L&T TO DELIVER PRODUCTS FOR ONGOING PROJECTS

Source text: ID:nBSE91v13Z

Further company coverage: ULTA.BO

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March 3 (Reuters) - Larsen and Toubro Ltd LART.NS:

• L&T WINS ORDERS (LARGE) FOR POWER TRANSMISSION & DISTRIBUTION BUSINESS

• WINS LARGE ORDERS FOR POWER TRANSMISSION & DISTRIBUTION BUSINESS

• LARSEN & TOUBRO GOT ORDER WORTH 25-50 BILLION RUPEES

Source text: [ID:]

Further company coverage: LART.NS

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Feb 26 (Reuters) - Larsen and Toubro Ltd LART.NS:

• INDIA GOVERNMENT: INDIAN ARMY SIGNS CONTRACT WITH L&T AT COST OF 804.3 MILLION RUPEES

Source text: [ID:]

Further company coverage: LART.NS

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Feb 25 (Reuters) - Avantel Ltd AVAN.NS:

• AVANTEL LTD - RECEIVES PURCHASE ORDER WORTH 16.4 MILLION RUPEES FROM LARSEN & TOUBRO

Source text: ID:nBSE5PCrLK

Further company coverage: AVAN.NS

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Feb 20 (Reuters) - Larsen and Toubro Ltd LART.NS:

• LARSEN AND TOUBRO: L&T MINERALS & METALS BUSINESS SECURES LARGE ORDERS IN STEEL AND ALUMINA SECTORS

• LARSEN & TOUBRO GOT ORDER WORTH BETWEEN 25 - 50 BILLION RUPEES

• LARSEN AND TOUBRO LTD - ORDER FROM HINDALCO TO SET UP 850 KTPA ALUMINA REFINERY

Source text: ID:nBSE9skjdx

Further company coverage: LART.NS

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** Indian IT index .NIFTYIT the only one among 13 major sectors trading higher, bucking broader market weakness .BO

** IT stocks up 0.24% vs a 0.5% drop in benchmark Nifty 50 .NSEI

** LTIMindtree LTIM.NS top gainer, up 2.83% after signing a multi-year contract

** Persistent Systems PERS.NS follows, with a 2.71% increase

** JP Morgan expects PERS to be the fastest growing in its coverage over FY25-27, saying it navigates tough macro environment well

** Heavyweights Infosys INFY.NS flat, while TCS TCS.NS down 0.6%

** IT index has lost 4.9% YTD, more than Nifty 50's ~3% drop

(Reporting by Ananta Agarwal in Bengaluru)

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MUMBAI, Feb 12 (Reuters) - India's L&T Finance has accepted bids worth 3.60 billion rupees ($41.44 million) for bonds maturing in five years and two months, three bankers said on Wednesday.

L&T Finance will pay an annual coupon of 7.80% on this issue and had invited commitment bids for the same earlier in the day, they said.

The company did not reply to a Reuters email seeking comment.

Here is the list of deals reported so far on February 12:

* Size includes base plus greenshoe for some issues

($1 = 86.8700 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)

(([email protected]))

MUMBAI, Feb 11 (Reuters) - India's L&T Finance plans to raise 5 billion rupees ($57.6 million), including a greenshoe option of 2.50 billion rupees, through the sale of bonds maturing in five years and two months years, three bankers said on Tuesday.

L&T Finance will pay an annual coupon of 7.80% on this issue and has invited commitment bids for the same on Wednesday, they said.

The company did not immediately reply to a Reuters email seeking comment.

Here is the list of deals reported so far on Feb. 11:

*Size includes base plus greenshoe for some issues

($1 = 86.8800 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra
Editing by Sumana Nandy)

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Feb 4 (Reuters) - Larsen and Toubro Ltd LART.NS:

• TO BUILD MAJOR EXPANSION PROJECT FOR STEEL PRODUCER IN MENA

• TO SET UP PELLET AND DRI PLANTS IN MENA REGION

• TO SET UP PELLET PLANT, DRI PLANT FOR CLIENT IN MENA REGION

• GETS PROJECT WORTH 50-100 BILLION RUPEES

Source text: ID:nBSE95tCLn

Further company coverage: LART.NS

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Adds analyst comment in paragraph 5, ratings agency's forecast in paragraph 12

By Hritam Mukherjee

Feb 1 (Reuters) - Indian infrastructure and cement stocks declined in a special trading session on Saturday, as investors were disappointed by the 'modest' hike in capital spending announced in the annual budget.

The infrastructure index .NIFTYINFR reversed gains following the budget presentation, and closed 1% lower. Sector bellwether Larsen & Toubro (L&T) LART.NS ended 3.4% lower, its sharpest one-day fall in more than 3 months.

The Indian government said it will spend a record 11.21 trillion rupees ($129.54 billion) on infrastructure in the upcoming financial year that begins on April 1.

"The capex outlay for fiscal year 2026.. looks modest compared to raises made in FY25 and FY24 budget, and misses market expectations slightly," said Amit Anwani, research analyst at Prabhudas Lilladher.

"The budget proposals seem to focus a lot on consumption this time around... but the negative surprise has come from the shift of focus on government capex in infrastructure development," said Mirae Asset Sharekhan's Gaurav Dua.

IRB Infrastructure Developers IRBI.NS, which constructs highways, declined 3%.

"With corporate balance sheets fairly strong, (the) government wants private sector to step up on capex," the company's Chairman Virendra D. Mhaiskar said.

Shares of cement makers, which are key beneficiaries of government spending, fell on worries that of a slow demand recovery.

UltraTech ULTC.NS, the country's largest cement maker by capacity, fell as much as 6% before ending 2% lower.

Ambuja Cements ABUJ.NS and Dalmia Bharat DALB.NS fell 2% each, while Shree Cement SHCM.NS dropped 3%.

Top cement executives have flagged that government spending hasn't picked up substantially since the national elections in 2024, with volumes growing sluggishly in the third quarter nearly across the board.

Cement demand is likely to log single-digit percentage growth in fiscal year 2026, India Ratings and Research said.

India is the world's second-largest cement producer, and the domestic industry is expected to grow 4%-5% in fiscal year 2025, significantly slower than the 8% and 12% growth seen in 2022 and 2023, data from ratings agency Crisil showed.

(Reporting by Hritam Mukherjee in Bengaluru; Additional reporting by Yagnoseni Das; Editing by Varun H K)

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Jan 30 (Reuters) - India's Larsen & Toubro LART.NS reported a third-quarter profit miss on Thursday, and said its quarterly order growth quickened on-year, helped by strength in international business while the domestic economy slackened.

The company's consolidated net profit after tax came in at 33.59 billion rupees ($387.8 million) for quarter ending Dec. 31, missing analysts' average expectation of 38.31 billion rupees.

Mumbai-based L&T, which is seen as a bellwether for India's infrastructure spending due to the scale and breadth of the orders it receives, posted a 53% jump in orders in the reported quarter.

In the previous three months, orders had declined 10% while in the year-ago quarter, they were up by 25%.

($1 = 86.6100 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru; Editing by Mrigank Dhaniwala)

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Jan 27 (Reuters) - Indifra Ltd IDIR.NS:

• GETS WORK ORDER FROM LARSEN & TOUBRO WORTH 67.4 MILLION RUPEES

Source text: [ID:]

Further company coverage: IDIR.NS

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By Shivam Patel

NEW DELHI, Jan 23 (Reuters) - German shipbuilder ThyssenKrupp and its Indian partner have cleared field trials for building six advanced conventional submarines for the Indian Navy, according to an exchange filing, emerging as the sole contender for the $5 billion project.

Their potential rival, Spanish state-held shipbuilder Navantia, which partnered with India's Larsen & Toubro (L&T) LART.NS, could not meet the navy's requirements in trials held in 2024 for testing key technologies, an Indian defence source said.

The project is crucial to India's effort to modernise its military and boost its naval capabilities in the face of China's growing presence in the Indian Ocean region.

ThyssenKrupp's Indian partner, state-owned Mazagon Dock Shipbuilders Ltd MAZG.NS, said in an exchange filing on Thursday that its field trials for the project were successful and the Indian defence ministry had invited the company for commercial negotiations next week.

The defence ministry, L&T and its submarine partner did not respond to requests for comment.

A key requirement for the project was air-independent propulsion (AIP) technology, which would allow the diesel-electric attack submarines to stay underwater for over two weeks. A conventional submarine without AIP technology would have to surface every few days to charge its batteries.

Currently, the 17 conventional submarines operated by the Indian Navy do not have AIP technology, which India's neighbours China and Pakistan have, according to nonprofit Nuclear Threat Initiative.

Analysts say the project for the six new submarines has been delayed by more than a decade, with the first of them now expected three to five years after a contract is agreed.

About half of India's conventional submarines have undergone multiple upgrades and retrofits over the past few years and are nearing the end of their productive lives.

($1 = 86.5025 Indian rupees)

(Reporting by Shivam Patel in New Delhi
Editing by Mark Potter)

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