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Mumbai (Maharashtra) [India], July 29 (ANI): The Power Transmission &amp; Distribution (<keyword id="21574285" type="General" weightage="20" keywordseo="PTD" source="keywords">PT&amp;D</keyword>) business of <keyword id="19975888" type="General" weightage="20" keywordseo="Larsen-Toubro" source="keywords" meta.keywordsubtype="org" meta.entityname="Larsen &amp; Toubro" meta.hostid="153" meta.entityid="Larsen &amp; Toubro">Larsen &amp; Toubro</keyword> (<keyword id="19963313" type="General" weightage="100" keywordseo="LT" source="keywords">L&amp;T</keyword>) has secured new orders both domestically and internationally for the construction of substations and <keyword id="21017821" type="General" weightage="20" keywordseo="transmission-lines" source="keywords">transmission lines</keyword>. According to an exchange filing, these projects are integral to the vast, interconnected electricity network, aiming to accelerate the <keyword id="20596535" type="General" weightage="20" keywordseo="clean-energy-transition" source="keywords">clean energy transition</keyword> and ensure a reliable, resilient power supply. In India, L&amp;T's PT&amp;D has been entrusted with two 765kV double circuit transmission line projects. These projects are vital for the evacuation of power from the Jaisalmer/Barmer <keyword id="21873922" type="General" weightage="20" keywordseo="Renewable-Energy-Zone" source="keywords">Renewable Energy Zone</keyword> in Rajasthan, channelling it to substations in Madhya Pradesh for further distribution. This initiative is a step towards harnessing and utilising renewable energy resources efficiently within the country. On the international front, Saudi Arabia continues its pursuit of sustainable and efficient power supply by bolstering its 380kV network in the central region. L&amp;T's PT&amp;D has secured orders to construct a 380kV substation and 380kV overhead line segments. These developments are crucial for enhancing the region's <keyword id="21644086" type="General" weightage="20" keywordseo="electricity-infrastructure" source="keywords">electricity infrastructure</keyword> and ensuring a stable power supply. In the United Arab Emirates, L&amp;T's PT&amp;D has been awarded contracts to build a 220kV substation and three 132kV substations. These substations will be pivotal in meeting the growing electricity demand in Dubai and Abu Dhabi, supporting the utilities in maintaining a robust and reliable power network. Larsen &amp; Toubro, a USD 27 billion Indian multinational, is a prominent player in EPC projects, hi-tech manufacturing, and services with a global footprint. Renowned for its customer-focused approach and relentless pursuit of top-quality standards, L&amp;T has maintained leadership in its major business domains for over eight decades. The recent orders won by L&amp;T's PT&amp;D fall under the 'Large' category, with values ranging from Rs 2,500 to Rs 5,000 crore.

L&T wins multiple orders worth Rs 2500 to 5000 crore to build grids for clean energy transition

State-owned Oil and Natural Gas Corporation (<keyword id="6354737" type="General" weightage="100" keywordseo="ongc" source="Orion">ONGC</keyword>) has cancelled the bids received for its <keyword id="6392149" type="General" weightage="80" keywordseo="daman" source="Orion">Daman</keyword> upside gas development project off the western coast due to high price quotes, sources said. The project is crucial to ONGC's strategy of ramping up gas production from its shallow-water fields off India's west coast. Once completed, the project would lead to nearly doubling of current gas production of 4-5 million standard cubic metres per day. Sources aware of the matter said the bids ONGC received for the project were way higher than the company's internal estimates and so the tender has been cancelled. The tender would now be divided into separate packages and rebid. Engineering and fabrication contractor <keyword id="45475" type="General" weightage="20" keywordseo="larsen-toubro" source="Orion">Larsen &amp; Toubro</keyword> (L&amp;T) emerged as the lowest bidder when the bids were opened in December last year. It quoted a cost of USD 663.77 million to build the infrastructure needed to ramp up production from the field that lies about 60 kilometers off the west coast. A consortium of Afcons and Indonesia's Gunanusa Utama Fabricators emerged a distant second in the bidding, quoting close to USD 801.90 million. Vietnam's PTSC and Abu Dhabi's National Petroleum Construction Company (NPCC) were also among those initially chasing the contract, but did not participate in the bid process. Sources said L&amp;T's quote of USD 663.37 million was 36.77 per cent higher than ONGC's revised internal estimate of USD 485.03 million. L&amp;T offered a USD 1 million discount but this was not acceptable to ONGC, they said, adding that ONGC could have tolerated a maximum variation of 20 per cent over the internal price estimate. Daman upside gas development project envisaged building four new wellhead platforms, seven infield pipelines, a new process gas compressor module and the addition of low-pressure compression at the existing process platform. It also includes topsides modifications at existing wellhead platforms. The project has been in the works for years but has been delayed on several occasions due to unfavourable gas pricing. But a rise in domestic gas prices turned around the project's commercial viability. ONGC has been producing natural gas from Daman since 2016 and has spent an estimated USD 1 billion on offshore infrastructure at the field over the past five to six years. The project to raise production involved building infrastructure that could also handle gas from neighbouring B-12 and C-24 marginal fields. India's domestic crude oil and natural gas production has been dwindling in recent years and ONGC is under increasing pressure from the government to boost its output and reverse the declining trend. Projects like Daman are crucial for meeting those objectives but the scrapping of the tender would add to the delay in boosting output. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/8-things-that-google-bard-can-do-but-chatgpt-cannot/articleshow/100187360.cms">8 things that Google Bard can do, but ChatGPT cannot</a> <a href="https://www.businessinsider.in/tech/apps/news/how-to-silence-fake-calls-from-unknown-numbers-on-whatsapp/articleshow/100186824.cms">How to silence calls from unknown numbers on WhatsApp</a> <a href="https://www.businessinsider.in/tech/mobile/news/survey-reveals-three-out-of-four-indians-suffer-from-nomophobia-heres-what-it-means/articleshow/100073985.cms">Survey reveals three out of four Indians suffer from NoMoPhobia: Here’s what it means</a>

ONGC scraps bids for flagship Daman gas field development over cost concerns

<keyword id="27859" type="General" weightage="20" keywordseo="Engineering" source="Orion">Engineering</keyword> and construction conglomerate <keyword id="13457337" type="COMPANY" weightage="20" keywordseo="larsen-toubro" source="Orion" meta.marketcap="284501.91386987997" meta.tagname="Larsen &amp; Toubro Ltd" meta.tagpopularcount="0" meta.sectorid="513" meta.entitytype="company" meta.matchtype="exact" meta.aum="0" meta.entityid="13447" meta.tagseoname="larsen-&amp;-toubro-ltd" meta.sector="Construction" meta.tagnameorg="Larsen &amp; Toubro Ltd.">Larsen &amp; Toubro</keyword> (<keyword id="6354919" type="General" weightage="100" keywordseo="LT" source="Orion">L&amp;T</keyword>) on Monday said it has hired more than 3,000 fresh engineering trainees in the current financial year. The onboarding of over 3,000 graduate and postgraduate engineering trainees in the ongoing fiscal marks a more than three-fold rise as against 1,067 trainees last fiscal. The number of female engineers hired has more than quadrupled to 1,009 trainees in FY23 from 248 trainees in FY22, L&amp;T said in a statement. "It is worth noting that 30 per cent of current batch of fresh engineers are women which is commendable given the fact that 75 per cent of the fresh engineers are hired from mechanical, civil and electrical streams where women candidates are less. "Currently, women employees comprise 7.6 per cent of the total workforce at L&amp;T, and they have already successfully forayed into fields long considered to be male bastions," company's Executive Vice President &amp; Head, Corporate Human Resource C Jayakumar said. The company is expanding rapidly and is currently sitting on a record order book, he said, adding, this requires keeping a steady talent pipeline of trained technical professionals for meeting effectively the current and future <keyword id="15310980" type="TOPIC" weightage="60" keywordseo="Business" source="TOPIC" sourcekeytype="business,investopedia" meta.keywordsubtype="null" meta.msid="92948412" meta.seopath="b/business" meta.entityname="Business" meta.hostid="153" meta.entityid="business">business</keyword> requirements. "This was central to the management's decision to more than double the hiring of fresh engineers compared to last <keyword id="15314880" type="TOPIC" weightage="60" keywordseo="Fiscal-year" source="TOPIC" sourcekeytype="finance,investopedia" meta.keywordsubtype="null" meta.msid="92741070" meta.seopath="f/fiscal-year" meta.entityname="Fiscal year" meta.hostid="153" meta.entityid="fiscal-year">fiscal year</keyword>. We went to the market to address our additional business requirement and got an overwhelming response from fresh engineers," he added. L&amp;T is an Indian multinational engaged in EPC projects, hi-tech manufacturing and services. It operates in over 50 countries worldwide. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/real-estate-investors-may-be-turning-to-india-following-a-continued-slump-in-chinas-property-market-says-a-report/articleshow/95649758.cms">Real estate investors may be turning to India following a continued slump in China's property market, says a report</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/companies-discussing-labour-shortage-up-by-28-in-2022-report/articleshow/95654525.cms">Companies discussing labour shortage up by 28% in 2022: Report</a>

Larsen & Toubro hires more than 3,000 engineering trainees in FY23

The Defence Acquisition Council (DAC) on Friday cleared the issuing of a Request For Proposal (RFP) for the <keyword id="6355100" type="COMPANY" weightage="20" keywordseo="Indian-Navy">Indian Navy</keyword>'s mega deal to procure six <keyword id="117400" type="PERSON" weightage="20" keywordseo="Submarines">submarines</keyword> under Project-75I through a strategic partnership route worth over ₹45,000 crore. Two Indian companies and five foreign Original Equipment Manufacturers had already been shortlisted earlier. The mega deal was approved during the DAC meet on Friday led by Defence Minister Rajnath Singh. The mega submarine project for building of indigenous submarines for the <keyword id="42407" type="COMPANY" weightage="20" keywordseo="Navy">Navy</keyword> got the final clearance wherein two Indian companies that can work in collaboration with a foreign manufacturer. The RFP has been issued to Mazagon Docks (MDL) and private company <keyword id="45475" type="COMPANY" weightage="20" keywordseo="Larsen-Toubro">Larsen &amp; Toubro</keyword>. Under the Project 75I, the submarines for the Indian Navy are going to be constructed in India and will be through ToT by the OEMs. This project is under the strategic partnership model which was adopted in an effort to ensure building capacity in the Indian industry. The idea is that this is going to help in the local manufacturing of major military platforms. The project received a clearance from the Cabinet Committee on Security (CCS) way back in 1999 and Acceptance of Necessity granted in 2007. The strategic partnership model aims at promoting India as a manufacturing hub for defence equipment, in addition to establishing an industrial and R&amp;D eco-system capable of meeting the future requirements of the Armed Forces besides giving boost to exports. The Indian Navy currently has 12 submarines. In addition there are two nuclear submarines <keyword id="45878" type="COMPANY" weightage="20" keywordseo="INS-ARIHANT">INS Arihant</keyword> and INS Chakra in the navy's fleet. Upgrading its submarine operations and the naval fleet has been the top priority for the Indian Navy in wake of the increased presence of Chinese vessels in the Indian Ocean region. SEE ALSO <a target="_blank" class="c-link" href="https://www.businessinsider.in/tech/mobile/news/oneplus-nord-ce-5g-mobile-phone-full-specifications-leaked-days-ahead-of-launch/articleshow/83195375.cms">OnePlus Nord CE 5G full specifications leaked days ahead of launch – heavily inspired by the original Nord</a> <a target="_blank" class="c-link" href="https://www.businessinsider.in/business/startups/news/top-five-fintech-ideas-that-are-drawing-the-most-amount-of-money/slidelist/83194276.cms">Five fintech ideas that are raking in the most amount of money</a> <a target="_blank" class="c-link" href="https://www.businessinsider.in/stock-market/news/reliance-industries-rossari-biotech-tata-power-and-other-stocks-to-watch-out-for-on-june-3/slidelist/83193921.cms">Reliance Industries, Rossari Biotech, Tata Power and other stocks to watch out for on June 3</a>

Defence Ministry clears Indian Navy's ₹45000 crore deal to procure six submarines

<keyword id="45475" type="COMPANY" weightage="20" keywordseo="Larsen-Toubro">Larsen &amp; Toubro</keyword> (L&amp;T) has delivered the first hardware -- a <keyword id="6952122" type="UNKNOWN" weightage="20" keywordseo="rocket-booster">rocket booster</keyword> for the launch vehicle of India's <keyword id="10286761" type="UNKNOWN" weightage="20" keywordseo="maiden-human-space-flight-gaganyaan">maiden human space flight Gaganyaan</keyword> -- to <keyword id="4491776" type="COMPANY" weightage="20" keywordseo="The-Indian-Space-Research-Organisation">the Indian Space Research Organisation</keyword> (ISRO), an official said on Tuesday. "The hardware, a booster segment, will be used in the heavy rocket for launching the country's first manned mission Gaganyaan into the earth's lower orbit with three Indian astronauts in 2021-22," a company official said here. Chairman of the state-run ISRO, K. Sivan, received the hardware, which is the middle segment of the solid propellant rocket booster (S-200). "The booster segment was produced at our Powai Aerospace manufacturing facility in Mumbai with a diameter of 3.2 metres, 8.5 metres in length and weighing 5.5 tonnes," said the company in a statement here. L&amp;T, the Mumbai-based infrastructure conglomerate, is playing a vital role in powering the country's human space flight programme. SEE ALSO: <a href="https://www.businessinsider.in/india/news/as-covid-19-cases-spike-in-delhi-aarvind-kejriwal-government-has-proposed-plans-to-limit-guests-at-a-wedding-to-50-people/articleshow/79259569.cms">Delhi government wants weddings to be restricted to 50 people, markets to be sealed if norms violated</a> <a href="https://www.businessinsider.in/policy/economy/news/ahead-of-modi-and-xi-virtual-meet-at-brics-summit-india-foreign-minister-warns-of-rcep-damaging-consequences/articleshow/79257760.cms">India's Foreign Minister warns of RCEP's 'damaging consequences' ahead of Modi and Xi's virtual meet at BRICS summit</a>

L&T delivers rocket booster for Indian human space flight

The key Indian equity indices traded on a positive note on Monday morning led by healthy buying in banking stocks. Around 10.50 a.m., <keyword id="6484188" type="PERSON" weightage="20" keywordseo="sensex">Sensex</keyword> was trading at 50,681.29, higher by 140.81 points or 0.28 per cent from its previous close of 50,540.48. It opened at 50,727.28 and has touched an intra-day high of 50,855.32 and a low of 50,465.90 points The Nifty50 on the <keyword id="53581" type="COMPANY" weightage="20" keywordseo="NATIONAL-STOCK-EXCHANGE">National Stock Exchange</keyword> was trading at 15,205.30, higher by 30.00 points or 0.2 per cent from its previous close. The top gainers on the Sensex were <keyword id="6354731" type="COMPANY" weightage="20" keywordseo="state-bank-of-india">State Bank of India</keyword>, <keyword id="45475" type="COMPANY" weightage="20" keywordseo="Larsen-Toubro">Larsen &amp; Toubro</keyword> and <keyword id="6365618" type="COMPANY" weightage="20" keywordseo="maruti-suzuki-india">Maruti Suzuki India</keyword>, while the major losers were Titan Company, <keyword id="6355596" type="COMPANY" weightage="20" keywordseo="ultratech-cement">UltraTech Cement</keyword> and <keyword id="6365619" type="COMPANY" weightage="20" keywordseo="hindustan-unilever">Hindustan Unilever</keyword>. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/environment/news/super-cyclone-yaas-everything-you-need-to-know-about-this-cyclone/articleshow/82900888.cms">Cyclone Yaas may have a shorter lifespan than Amphan, but that doesn’t mean it will be any less destructive</a>

SBI, L&T and Maruti help Sensex scale its highest since March 12

India Business Wire India Q4 <keyword id="45663" type="ORGANIZATION" weightage="20" keywordseo="Revenue">Revenue</keyword> of 197.5mn, up 4% QoQ Q4 Net profit of ₹195 crore, up 5% QoQ <keyword id="1380245" type="COMPANY" weightage="20" keywordseo="LT-Technology-Services">L&amp;T Technology Services</keyword> Limited (BSE: 540115, NSE: LTTS), India's leading pure-play engineering services company, announced its results for the fourth quarter and full year ended March 31, 2021. Highlights for Q4FY21 include: Revenue at ₹14,405 million; growth of 2.8% QoQ <keyword id="54123" type="COMPANY" weightage="20" keywordseo="USD">USD</keyword> Revenue at 197.5 million; growth of 3.9% QoQ EBIT margin at 16.6%; up 140 bps QoQ Net profit at ₹1,945 million; growth of 4.5% QoQ Highlights for FY21 include: Revenue at ₹54,497 million; decline of 3% USD Revenue at 737 million; decline of 6.3% EBIT margin at 14.5% Net profit at ₹6,633 million; decline of 19% Board has recommended a final dividend of ₹14.50 per share During the quarter, LTTS won 6 deals with TCV of USD10 million plus, which includes 2 USD25 million plus deals. Revenues from digital and leading-edge technologies stood at 52% during the quarter. We are exiting FY21 on an optimistic note post three consecutive quarters of strong deal wins and sequential revenue and operating margin improvement. The annual free cash flow generation at ₹1,252 crores was at a record high. I am happy to note that in Q4, our revenue is back on the positive year-over-year growth path. We are seeing healthy deal win closures and pipeline build up as customers look for innovation and digital led transformation to strengthen their market positioning. Across all our five segments, we are investing in disruptive technologies and design labs to further the growth. As we continue to execute in an environment made difficult by Covid uncertainties, I would like to thank our employees for their commitment, customer focus and resilience that has helped us deepen strategic relationships, said Amit Chadha, CEO &amp; Managing Director, L&amp;T Technology Services Limited. Industry Recognitions: LTTS has been recognized as a Leader' for Development and Verification &amp; Validation services in Industry 4.0 by Everest Group ISG Group rated LTTS as Leader' in Smart Manufacturing Services for Automotive and Hi-Tech LTTS won the 2021 Big Innovation Awards, USA for Chest rAI and i-BEMS . For its Solar Electrification tribal village project, LTTS was conferred with the Mahatma Award for CSR Excellence. Patents At the end of the fourth quarter, the patents portfolio of L&amp;T Technology Services stood at 650, out of which 485 are co-authored with its customers and the remaining 165 have been filed by LTTS. Human Resources At the end of Q4FY21, LTTS' employee strength stood at 16,452. About L&amp;T Technology <keyword id="266374" type="DOMAIN" weightage="20" keywordseo="Services-Ltd">Services Ltd</keyword> L&amp;T Technology Services Limited (LTTS) is a listed subsidiary of <keyword id="689816" type="COMPANY" weightage="20" keywordseo="Larsen-Toubro-Limited">Larsen &amp; Toubro Limited</keyword> focused on Engineering and R&amp;D (ER&amp;D) services. We offer consultancy, design, development and testing services across the product and process development life cycle. Our customer base includes 69 Fortune 500 companies and 53 of the world's top ER&amp;D companies, across industrial products, medical devices, transportation, telecom &amp; hi-tech, and the process industries. Headquartered in India, we have over 16,400 employees spread across 17 global design centers, 28 global sales offices and 69 innovation labs as of March 31, 2021. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/the-designer-for-bentley-aston-martin-and-jaguar-will-now-work-on-ola-electric-new-models/articleshow/82383151.cms">The designer for Bentley, Aston Martin and Jaguar will now work on Ola Electric's new models</a> <a href="https://www.businessinsider.in/tech/apps/news/pubg-mobile-india-download-release-date-everything-we-know-so-far/articleshow/82383038.cms">PUBG Mobile India to relaunch as Battlegrounds Mobile India – here’s what we know so far</a> <a href="https://www.businessinsider.in/tech/apps/news/coders-are-coming-up-with-new-ways-to-check-for-covid-19-vaccination-slots-on-cowin/articleshow/82383284.cms">Indian coders are working around the CoWIN app to help people bag the elusive vaccine slots</a> <a href="https://www.businessinsider.in/tech/news/apple-analyst-predicts-an-8-inch-foldable-iphone-to-launch-in-2023/articleshow/82383566.cms">Apple analyst predicts an 8-inch foldable iPhone to launch in 2023</a>

L&T Tech announces dividend of ₹14.50  even as revenue for the year dips by 3%

New Delhi, <keyword id="27859" type="ORGANIZATION" weightage="20" keywordseo="engineering">Engineering</keyword> and construction conglomerate <keyword id="45475" type="COMPANY" weightage="20" keywordseo="Larsen-Toubro">Larsen &amp; Toubro</keyword> (L&amp;T) is looking to recruit close to 1,100 graduate and post graduate engineer trainees in 2021 and deploy them across various business verticals, a top company official has said. The company, through its ongoing virtual hiring process, has already made around 250 offers in the recent hiring season at premium education institutes like <keyword id="6356755" type="COMPANY" weightage="20" keywordseo="iit-madras">IIT Madras</keyword>, <keyword id="6354859" type="COMPANY" weightage="20" keywordseo="IIt">IIT</keyword> Guwahati, IIT BHU, <keyword id="61708" type="COMPANY" weightage="20" keywordseo="IIT-Bombay">IIT Bombay</keyword>, IIT Delhi, IIT Roorkee, <keyword id="6364832" type="COMPANY" weightage="20" keywordseo="IIT-Kharagpur">IIT Kharagpur</keyword>, IIT (ISM) Dhanbad, IIT Hyderabad and other IITs. "L&amp;T not only offers Graduate and Post Graduate Engineer Trainees (GETs &amp; PGETs) continuous learning opportunities and a growth path but also gives them immense satisfaction to work on projects that are high on the top of national or global pecking order," company's chief executive and managing director S N Subrahmanyan said. In 2021, it is planning to hire 1,100 engineers and has already made offers to 250 IITians, he said. Every year, the company recruits around 1,100 plus engineers, 90% of which belongs to premier institutes like IITs, NITs, and top government engineering colleges, the company said. During this pandemic year also, the company has kept its momentum of hiring from best of the institutes and has introduced its internally built online hiring platform to facilitate 100% remote recruitment, Subrahmanyan said. "The Graduate Engineer Training (GET) programme has several alumni and leaders serving in leadership positions at the company. This signature programme known for its selection rigour has very high aspirational value in the best campuses across the country," added Subrahmanyan. The entire hiring process of L&amp;T is digital and remote, including the testing process which is conducted with the help of remote proctoring tool which monitors the test based on 14 parameters. The platform used for hiring has been developed internally by the company. The company said this hired talent will be put to an internally developed induction program for over three weeks. The programme inducts talent into business and functional aspects of L&amp;T and imparts experiential learning and hands-on technical sessions. This is also an opportunity for these youngsters to interact with the senior leadership of L&amp;T and get acquainted with the strategy and core values of the organisation. Despite pandemic-related challenges, the company kept its commitment and completed over three-week virtual induction process for all freshly hired GETs &amp; PGETs of 2020 batch through digital and remote mode in August 2020, the company said. "The efforts to hire the best and develop its talent is complimented by numerous career opportunities that the L&amp;T Group provides to its employees. The diversity of businesses and the scale of operations, with its wide array of high and mighty complex engineering, construction, technology, defence and services projects, indeed opens up multiple domain avenues for career growth for its employees," Subrahmanyan said. This acquired pool of talent will be deployed in critical roles like business development, strategy, design, contract management, project management and construction management to mention a few. In this pandemic period also, the company said it has continued its culture of acquiring the best entry-level talent and groom it further to usher in nation-building through engineering and construction. SEE ALSO: <a href="https://www.businessinsider.in/science/environment/news/top-10-most-expensive-natural-disasters-of-2020-in-the-world/slidelist/79986294.cms">Cyclone Amphan was the most expensive cyclone of 2020 and the fourth most expensive natural disaster overall</a> <a href="https://www.businessinsider.in/stock-market/news/there-are-one-of-only-17-indian-companies-out-of-500-that-aced-the-du-pont-test/articleshow/79911627.cms">There are one of only 17 Indian companies out of 500 that aced the Du Pont test</a> <a href="https://www.businessinsider.in/business/corporates/news/wipro-buyback-offer-details-and-700-million-metro-ag-deal-drives-share-price/articleshow/79911875.cms">Wipro offers 10% more to buy back shares and signs a $700 million deal with Metro AG – everything that’s driving the IT services stock higher today</a>

L&T plans to hire 1,100 engineers in 2021, offers already made to 250 IITians

<ul><li>The 30-share BSE index was trading 0.48% higher, while the Nifty50 was up 62 points at 9:50 am.</li><li>These were the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market index Sensex jumped nearly 200 points in early trade on Friday tracking gains in index majors TCS, Reliance Industries and Sun Pharma amid positive cues from Asian peers. The 30-share BSE index was trading 0.48% higher, while the Nifty50 was up 62 points at 9:50 am. These were the top losers and gainers in the Nifty pack: <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dr Reddy </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HUL </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cipla </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Fin Services </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sun Pharma </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Life </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Ports </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kotak Bank </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eicher Motors </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Auto </td></tr></tbody></table>*as of September 18, 10:30 am These are the top stocks that are buzzing in trade today. RITES gain 2% ahead of the board meeting The shares of infrastructure company RITES Ltd were trading 2% higher during the early trading hours on September 18. The board of the company is slated to meet today to consider the buyback proposal of the fully paid-up equity shares of the company. Sterling and Wilson Solar opened 5% higher The shares of Sterling and Wilson Solar opened 5% higher after the company secured a 106.71 MW solar project in Chile worth $62.6 million (about ₹462 crore). “The order has been received from a global independent power producer (IPP), work for which is expected to begin in Q4 FY 2021," the company said in a statement. TCS trading 1% higher The shares of Tata Consultancy Services gained 1% after the firm announced that it has partnered with Phoenix Group, the UK's largest long-term savings and retirement business. The company plans to launch an enhanced client analytics tool for workplace pension clients of its subsidiary Standard Life Assurance Limited. Vodafone Idea gains 4% The shares of telecom giant Vodafone Idea were trading 4% higher after <a href="https://www.cnbctv18.com/telecom/vodafone-idea-drops-faster-speed-claim-in-priority-offering-informs-trai-about-revised-plan-6939661.htm">media reports</a> surfaced that it dropped the faster data speed claims as part of priority offering and is in the process of filing a revised plan. Hindalco jumps 2% The share price of Hindalco gained over 2% after the company signed an MoU with Hindustan Copper for the long-term purchase and sale of copper concentrate produced by Hindustan Copper. Under this MoU, around 60% copper content of Hindustan Copper's current concentrate production will be utilised by Hindalco in the manufacture of refined copper. Defence stocks gain ground The shares of Bharat Forge, Larsen &amp; Toubro, and Hindustan Aeronautics Limited gained nearly about a percent after<a href="https://www.businessinsider.in/defense/news/foreign-investors-can-now-pump-in-up-to-74-fdi-under-automatic-route-indias-defence-sector/articleshow/78179850.cms"> India permitted foreign direct investment</a> (FDI) of up to 74% under automatic route in the defence sector. SEE ALSO:<a href="https://www.businessinsider.in/retail/news/ikeas-push-to-reach-100-million-customers-in-india-will-see-the-swedish-retail-giant-bet-on-online-and-smaller-stores/articleshow/78179851.cms" data-type="tilCustomLink"> IKEA’s push to reach 100 million customers in India will see the Swedish retail giant bet on online and smaller stores</a> <a href="https://www.businessinsider.in/science/news/forget-vitamins-fauci-says-the-3-best-things-to-keep-your-immune-system-working-optimally-cost-nothing/articleshow/78178136.cms" data-type="tilCustomLink">Forget vitamins: Fauci says the 3 best things 'to keep your immune system working optimally' cost nothing</a>

Top stock movers — TCS, Vodafone Idea, Adani Ports, Larsen & Toubro, Sterling and Wilson Solar and more

<ul><li>The scope of the project involves design, supply, construction and testing, and commissioning of the depot.</li><li><keyword id="6354919" type="General" weightage="20" keywordseo="lt" source="Orion">L&amp;T</keyword> is an Indian multinational engaged in EPC projects, hi-tech manufacturing and services. It has operations in over 50 countries.</li><li>Shares of L&amp;T were trading marginally up by 0.06 per cent at ₹ 2,085.65 on <keyword id="35140" type="General" weightage="50" keywordseo="bse" source="Orion">BSE</keyword> in preclose session. </li></ul> <keyword id="147676" type="General" weightage="50" keywordseo="larsen" source="Orion">Larsen</keyword> and Toubro (L&amp;T) on Monday said it has bagged another "large" order in the proposed <keyword id="1025777" type="General" weightage="20" keywordseo="mumbai-ahmedabad" source="Orion">Mumbai-Ahmedabad</keyword> bullet train project from the National High-Speed Rail Corporation. The project involves commissioning of a depot spread over around 82 hectares in Gujarat, L&amp;T said in a filing to exchanges. Though the engineering and construction giant did not reveal the worth of the order, as per the project classification of the company, a large project falls in the range of ₹ 2,500 crore to ₹ 5,000 crore. "The buildings and factories business of L&amp;T Construction has secured an order from the <keyword id="6432751" type="General" weightage="20" keywordseo="national-high-speed-rail-corporation-limited" source="Orion">National High-Speed Rail Corporation Limited</keyword> (NHSRCL) to construct the Sabarmati Depot (MAHSR - D-2) in Gujarat for the (MAHSR project through a consortium led by <keyword id="1137882" type="General" weightage="50" keywordseo="sojitz-corporation" source="Orion">Sojitz Corporation</keyword>, Japan," it said. The scope of the project involves design, supply, construction and testing, and commissioning of the depot spread over approximately 82 hectares including various specialised equipment required to inspect and maintain the rolling stock based on the proven <keyword id="1932907" type="General" weightage="50" keywordseo="shinkansen" source="Orion">Shinkansen</keyword> technology and upon completion, will be the biggest depot in India for this purpose. L&amp;T is already executing civil viaduct and station packages (C4, C5 &amp; C6), special steel bridges packages P4(X) and P4 (Y), and ballastless track works for the bullet train project. L&amp;T is an Indian multinational engaged in EPC projects, hi-tech manufacturing and services. It has operations in over 50 countries. Shares of L&amp;T were trading marginally up by 0.06 per cent at ₹ 2,085.65 on BSE in preclose session. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/india-germany-ink-deal-on-comprehensive-migration-and-mobility-partnership/articleshow/96001711.cms">India, Germany ink deal on comprehensive migration and mobility partnership</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/kolkata-hyderabad-and-pune-remain-indias-most-affordable-residential-cities-jll/articleshow/96001910.cms">Kolkata, Hyderabad and Pune remain India’s most affordable residential cities: JLL</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/e-commerce-platform-carousell-lays-off-110-employees-to-reduce-costs/articleshow/95997109.cms">E-commerce platform Carousell lays off 110 employees to reduce costs</a>

L&T bags new large order in Mumbai-Ahmedabad bullet train project

<ul><li>RIL, TCS, HDFC Bank retain top spots as <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>’s most valuable companies.</li><li>India’s 500 most valuable companies have a cumulative value of ₹231 lakh crore, as per a Burgundy <keyword id="20553117" type="General" weightage="20" keywordseo="hurun" source="keywords">Hurun</keyword> report.</li><li>Suzlon Energy, Jindal Stainless and JSW Infrastructure saw triple digit growth in value in the last one year. </li></ul>Reliance Industries, TCS and HDFC Bank retained their ranks as India’s most valuable companies respectively in the 2023 <keyword id="20554332" type="General" weightage="20" keywordseo="burgundy-private-hurun" source="keywords">Burgundy Private Hurun</keyword> India 500, released on Monday. The combined value of the top 10 companies remained unchanged in the last one year, at ₹73.3 lakh crore. However, the picture wasn't as rosy for the startup ecosystem. The top 10 had a mixed year, five of them seeing a robust double double digit growth in value, two of them saw single-digit growth, and three of them shed around 10% of their value. L&amp;T’s value went up by 41%, HDFC Bank’s value swelled by 35% due the merger with its parent, and ITC too saw its value swell by 24%. Notable exits &amp; big comebacks Startups, however, had a bad year with Swiggy shedding 26% of its value, Dream11’s value went down by 9.8%, and Razorpay by 8.5%. Meanwhile, in the listed space, while most new-age companies like Policybazaar, Delhivery, Zomato Paytm, saw their valuations go up, Nykaa remained an outlier as it shed 26.8% of its value. Byju’s and Pharmeasy exited the list which has a new cut off rate of ₹6,700 crore. “Startup funding and valuation continued their downward trajectory. Startups in the list cumulatively lost ₹4 lakh crore led by <keyword id="19914048" type="General" weightage="20" keywordseo="byjus" source="keywords">Byjus</keyword>, Dealshare, and Pharmeasy; which failed to make it to the list this year,” Hurun said. The unlisted universe had yet another disappointment. India’s most valuable unlisted company and Covid-19 vaccine maker Serum Institute of India saw its value decrease by 13% to ₹1.9 lakh crore. There have been many comeback stories as well amongst the top 500 companies. Suzlon Energy registered one of the highest value growth this year, as its value swelled by a remarkable 436%. Jindal Stainless’ value went up by 395% and JSW Infrastructure by 310%. “It indicates a rise in renewable energy and infrastructure development. For instance, INOX Wind, which was on the path to insolvency in 2017, registered a 450% growth in value and stormed into 2023 Burgundy Private <keyword id="20554331" type="General" weightage="20" keywordseo="hurun-india" source="keywords">Hurun India</keyword> 500,” said Anas Rahman Junaid, MD and chief researcher, of Hurun India. But, 61 new companies made their debut to the list, led by industrial products with 16 new entrants, followed by financial services with 10 new entrants. Apart from Inox Wind, freshly listed R R Kabel and Welspun Corp were the notable unlisted entrants including unicorn Incred Finance, and Bengaluru-based gaming startup Gameskraft. Jio Financial Services which recently demerged from RIL is the 28th most valuable company. Top 10 of 2023 Burgundy Private Hurun India 500 <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Value </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance Industries </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹15,64,663 cr </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-9.3% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Consultancy Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹12,36,229 cr </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.8% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹11,25,975 cr </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">35.1% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹6,47,716 cr </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.3% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹5,71,529 cr </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-11.7% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bharti Airtel </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹5,55,531 cr </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">13.5% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ITC </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹5,36,811 cr </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">24.2% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Larsen &amp; Toubro </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4,02,197 cr </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">41.5% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Technologies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,43,211 cr </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">21.5% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kotak Mahindra Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,41,352 cr </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-9.6% </td></tr></tbody><tbody></tbody></table> 500 companies’ combined value remained flat since 2021 India’s 500 most valuable companies, which includes listed as well as unlisted companies, have a cumulative value of ₹231 lakh crore ($2.8 trillion). They went up from ₹212 lakh crore from June last year, but remained flat since 2021, the report says. “The 2023 Burgundy Private Hurun India 500 list is a strong confirmation of the Indian economy's solid performance in all sectors. The increase in new entrants from industrial goods shows India's rising manufacturing growth,” said Junaid. The combined value of the listed and unlisted companies which made it to the 2023 Burgundy Private Hurun India 500, is more than the combined GDP of Saudi Arabia, Switzerland and Singapore, the report said. “The 2023 Burgundy Private Hurun India 500 companies represent India’s economically strongest businesses. The reason is self-explanatory as these companies have a total value of $2.8 trillion, which is almost 90% of India’s current GDP, i.e. they are the backbone of India’s economy. Together, these 500 companies had combined sales of ₹79 lakh crore and employed 7 million staff, which is more than the working population of Switzerland,” Junaid said. The cut off for companies to enter the list went up by 13% to ₹6,700 crore.

Indian startups shed ₹4 lakh crore in value led by Byju's, PharmEasy & more

<ul><li><keyword id="6698812" type="UNKNOWN" weightage="20" keywordseo="A-M-Naik">A M Naik</keyword>, the non-executive chairman of L&amp;T, earned ₹194 million ($2.7 million) last year after encashing all his accumulated leaves. </li><li>His total payout, which included a base <keyword id="10876" type="PERSON" weightage="20" keywordseo="salary">salary</keyword> of ₹27.3 million, came to ₹1.37 billion for the year. </li><li>A son of a village primary school teacher in Gujarat, Naik joined L&amp;T as junior engineer in 1965, rose through the ranks. </li></ul> Indians are famous for not taking a<a href="https://www.businessinsider.in/india-ranked-as-the-most-vacation-deprived-country-in-the-world-survey/articleshow/66749566.cms"> break</a> from work. And one of the biggest examples of that could be Anil Manibhai Naik. On January 26, the now retired non-executive chairman of industrial conglomerate <keyword id="45475" type="CITY" weightage="20" keywordseo="Larsen-Toubro">Larsen &amp; Toubro</keyword> (L&amp;T), was awarded the Padma Vibhushan - India’s second-highest honour for civilians-- for his contribution to India’s corporate sector. The government honour caps a terrific 12-month period for Naik who made a staggering $3 million last year for unused leaves in his career spanning five decades. According to L&amp;T’s annual report for 2017-18, Naik earned <a href="http://investors.larsentoubro.com/upload/AnnualRep/FY2018AnnualRepL&amp;T-AR%202017-2018.pdf">₹194 million</a> ($2.7 million) last year after encashing all his accumulated leaves. His total payout, which included a base salary of ₹27.3 million, came to ₹1.37 billion for the year. His retirement gratuity benefits and the exercise of his stock options netted him more than ₹1 billion of his total. A son of a village primary school teacher in Gujarat, Naik joined L&amp;T as junior engineer in 1965, rose through the ranks, and eventually steered the construction major’s entry into the defence. The <a href="https://www.google.com/search?rlz=1C1GCEU_enIN820IN820&amp;ei=AMtOXM7cGYz2rQGWwqHgDw&amp;q=larsen+%26+toubro+share+price&amp;oq=larsen+%26+toubro+share+price&amp;gs_l=psy-ab.3..0l6.227.2088..2197...0.0..0.186.1303.0j11......0....1..gws-wiz.......0i71j0i67.5RttBKLKS0A">₹1.83 trillion</a> L&amp;T group today offers IT solutions and financial services too. Naik famously <a href="https://www.thehindu.com/news/cities/mumbai/the-man-who-took-on-ambani-birla-to-save-lt/article20553489.ece">fended off</a> takeover bids from by the <keyword id="10924" type="PERSON" weightage="20" keywordseo="Ambani">Ambani</keyword> family in the late 1990s. While he announced <a href="https://www.ibtimes.co.in/lts-am-naik-donate-75-his-lifetime-income-charitable-causes-691351">in August 2016</a> that he would give away 75% of his income to charitable causes over his lifetime-- that an executive’s unused leaves are worth $3 million will be an uncomfortable fact for millions more who slog through their lives without <a href="https://economictimes.indiatimes.com/news/economy/finance/indias-pension-system-ranked-near-bottom-among-major-economies/articleshow/61218172.cms">the assurance of a secured retirement</a>. SEE ALSO: <a href="https://www.businessinsider.in/oxfam-finds-that-indias-1-own-more-than-50-of-the-countrys-wealth/articleshow/67620424.cms">India’s billionaires saw their wealth grow by ₹22 billion every day last year while the poorest 50% only saw a 3% rise in income: Oxfam</a>

You Searched For "Larsen Toubro Indian army" and got 12 results

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