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News on Medial
L&T bags large orders in India, overseas
Economic Times
·
6m ago
Medial
Larsen & Toubro (L&T) announced securing large orders, valued between Rs 2,500 crore to Rs 5,000 crore, in both domestic and international markets. This includes implementing an advanced distribution management system in West Bengal, establishing key substations in Saudi Arabia and Kuwait, and Extra-High Voltage substations in Dubai. L&T, a $27 billion Indian multinational, specializes in EPC projects, hi-tech manufacturing, and services, operating globally.
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CRED Partners L&T Finance To Offer Unsecured Personal Loans
Inc42
·
11m ago
Medial
CRED, the Indian fintech major, has partnered with L&T Finance to launch a new product called CRED Cash. This product will be disbursed through CRED's NBFC arm, NewTap Finance. The partnership aims to leverage the financial services expertise of L&T Finance and CRED's large customer base. The launch of CRED Cash comes as the Reserve Bank of India has taken measures to regulate the rapid growth of unsecured lending in the country.
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Indian firms target overseas assets to fast-track semiconductor ambitions
Economic Times
·
1m ago
Medial
Indian semiconductor companies are targeting strategic overseas acquisitions to boost their chip manufacturing and assembly ambitions, aiming to gain proprietary expertise, precision equipment, and critical intellectual property. Key players like Tata Electronics and L&T Semiconductor Technologies are acquiring foreign assets while investing in greenfield facilities in India. These acquisitions are crucial for upskilling local workforces and establishing robust training pipelines. The move towards advanced packaging technologies could enhance India's global position in the semiconductor industry.
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L&T commissions first indigenously built Hydrogen Electrolyser at Hazira
Thehindubusinessline
·
1y ago
Medial
Larsen & Toubro (L&T) has commissioned its first domestically produced electrolyser at the Green Hydrogen Plant in Gujarat. The plant features a 1 MW electrolyser capacity with the ability to produce 200 Nm3/Hr of hydrogen. L&T Electrolysers Ltd, a subsidiary of L&T, aims to lead in the domestic and global markets for clean energy solutions. The company plans to leverage its upcoming facility in Hazira to meet the growing demand for green hydrogen. L&T Electrolysers has also been allocated a significant capacity under the National Green Hydrogen Mission.
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AM Naik steps down as Chairman of LTIMindtree; SN Subrahmanyan to succeed
Livemint
·
1y ago
Medial
A. M. Naik will step down as Chairman of L&T Mindtree, with S. N. Subrahmanyan taking over the role on June 27, 2024. Naik has been praised for significantly increasing shareholder value and transforming L&T Mindtree into a global leader. He expressed pride in the company's growth and confidence in Subrahmanyan's leadership. Known as SNS, Subrahmanyan played a key role in L&T Mindtree's growth, including the acquisition of Mindtree and its subsequent merger. He acknowledged Naik's efforts and expressed gratitude for the opportunity to continue L&T Mindtree's legacy.
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L&T Precision Engineering eyes supply chain role for the next US space station: VP Vikas Khita | Mint
Livemint
·
9m ago
Medial
- L&T Precision Engineering and Systems, a subsidiary of Larson and Toubro Ltd., is looking to play a supply chain role in the next US space station. - The company's Vice President, Vikas Khita, anticipates Indian firms will have a role in the supply chain for the next space station. - L&T is also interested in building space ports, space parks, and manufacturing clusters as the Indian government opens up the space industry to private players in 2020. - L&T has been involved in the production of hardware for every ISRO project, including Chandrayaan, Gaganyaan, and Mars Orbiter missions. - L&T was previously in discussions with Blue Origin for the supply of orbital launch capabilities and space habitat solutions. - India aims to capture nearly 8% of the global space market by 2033, which is estimated to be worth nearly $1.8 trillion by 2035.
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L&T to acquire semiconductor design firm SiliConch
VCCircle
·
1y ago
Medial
Indian engineering and construction company Larsen & Toubro (L&T) is set to acquire semiconductor design firm SiliConch Systems, in a move to strengthen its presence in the fabless semiconductor business. L&T's wholly owned subsidiary L&T Semiconductor Technologies will purchase a 100% stake in SiliConch for up to INR183 crore ($21.9m). The deal is expected to be completed by 15 September. L&T said the acquisition aligns with the growth strategy of its semiconductor arm and will provide it with intellectual property, engineering skillsets and design expertise.
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Bachatt bags ₹34 crore funding from Lightspeed, Info Edge Ventures
Inshorts
·
3m ago
Medial
Fintech startup Bachatt has raised over ₹34 crore in a seed funding round co-led by Lightspeed and Info Edge Ventures. While Lightspeed infused ₹23 crore, $8 crore was infused by the Sanjeev Bikhchandani-led VC firm. The round saw Urban Company cofounder Abhiraj Bhal, L&T Finance Sunil Prabhune, OYO COO Abhinav Sinha and CSO Maninder Gulati join the startup table.
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L&T boosts AI, data centre ambitions with E2E Networks deal
Livemint
·
8m ago
Medial
Engineering major, Larsen & Toubro (L&T) is set to invest in AI cloud platform provider, E2E Networks. This move is expected to accelerate L&T's offerings in the data centres and AI space, giving access to E2E's existing AI cloud platform. L&T recently operationalised data centres in Panvel and Chennai, and the collaboration with E2E will provide an enterprise cloud layer for its clients. L&T plans to invest INR 1,407 crore to acquire a 21% stake in E2E Networks. This strategic partnership aims to leverage client relationships and drive growth in the AI and digital transformation space.
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How L&T is engineering an AI-driven conglomerate
Livemint
·
1y ago
Medial
Larsen and Toubro (L&T), India's largest engineering and infrastructure conglomerate, is leveraging digital technologies such as RFID tags, geofencing, IoT devices, drones, robotic process automation, and AR/VR tools to monitor and optimize its assets. By using these tools, L&T aims to reduce waste and pilferage while increasing productivity. For example, L&T utilizes automated geofencing to monitor the location of visitors and IoT devices to track fuel and materials consumption. The company has also implemented AI and machine learning for predictive analytics, risk assessment, and productivity tracking. L&T's digital initiatives have resulted in significant cost savings and improved efficiency.
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Critical for Defence Tech Start-Ups to Prove Reliability on Field: L&T Executive
OutlookIndia
·
3m ago
Medial
Defence tech startups need to demonstrate the real-world reliability of their innovations, says an L&T executive. Success is not just about lab ideas but field performance against real challenges. This ecosystem fosters innovation, benefiting companies like L&T despite potential competition. The executive emphasizes that sustainable success requires converting innovation into viable business models by developing capabilities and market presence. The insights were shared at the Startup Mahakumbh, a major event for the startup ecosystem in India.
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