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L&T Precision Engineering eyes supply chain role for the next US space station: VP Vikas Khita | Mint

Livemint

Livemint · 8m ago

L&T Precision Engineering eyes supply chain role for the next US space station: VP Vikas Khita | Mint

- 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 Technology Services fires 200 employees

Livemint

Livemint · 1y ago

L&T Technology Services fires 200 employees

Engineering services firm L&T Technology Services (LTTS) has reportedly laid off 200 employees in mid-to-senior roles as part of its performance cycle and to reduce role overlaps. The job cuts mainly affected delivery and support functions due to increased automation. L&T Technology Services has about 24,000 employees and discussions are underway for potential additional job cuts in January. The company, however, mentioned plans to continue hiring in areas like plant engineering, digital, AI, and software-defined vehicles.

L&T to acquire semiconductor design firm SiliConch

VCCircle

VCCircle · 11m ago

L&T to acquire semiconductor design firm SiliConch

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.

AM Naik steps down as Chairman of LTIMindtree; SN Subrahmanyan to succeed

Livemint

Livemint · 1y ago

AM Naik steps down as Chairman of LTIMindtree; SN Subrahmanyan to succeed

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How L&T is engineering an AI-driven conglomerate

Livemint

Livemint · 1y ago

How L&T is engineering an AI-driven conglomerate

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.

L&T boosts AI, data centre ambitions with E2E Networks deal

Livemint

Livemint · 7m ago

L&T boosts AI, data centre ambitions with E2E Networks deal

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.

Mamaearth parent ropes in Lokesh Chhaparwal to lead tech and engineering

Economic Times

Economic Times · 5m ago

Mamaearth parent ropes in Lokesh Chhaparwal to lead tech and engineering

Honasa Consumer, the parent of Mamaearth, has appointed Lokesh Chhaparwal as Senior VP of Technology and Engineering, bringing over 13 years of expertise. He previously led engineering at Snapdeal. Chhaparwal will guide Honasa’s tech strategy, enhance digital platforms, optimize supply chains, and advance marketing technologies. His role includes overseeing internal security for data protection. This appointment follows recent leadership changes and expansions at Honasa, including promotions and new hires to bolster R&D and analytics.

Retail therapy: Inside the business shift at L&T Finance

Livemint

Livemint · 11m ago

Retail therapy: Inside the business shift at L&T Finance

Sudipta Roy has been appointed as the CEO of L&T Finance, a subsidiary of Larsen & Toubro, with the task of transforming the company's performance. L&T Finance, although backed by the engineering giant, has struggled to establish itself in the financing sector. The company is planning a five-pillar strategy to raise its brand visibility, enhance customer acquisition, improve credit underwriting, develop a futuristic digital architecture, and build capabilities. Additionally, L&T Finance is leveraging AI and ML technologies through projects like "Cyclops" to assess credit risk and automate decision-making in lending. While it is still early to assess the full impact of these changes, there has been an improvement in the company's numbers, particularly in two-wheeler loans and prime customers.

Vinit Teredesai resigns as LTIMindtree CFO, Vipul Chandra to take over

Livemint

Livemint · 1y ago

Vinit Teredesai resigns as LTIMindtree CFO, Vipul Chandra to take over

Vinit Teredesai has resigned as the CFO of LTIMindtree Ltd to explore opportunities outside the L&T group. He will be replaced by Vipul Chandra, who has been with parent firm L&T Ltd since 2013. Teredesai played a key role in the growth and merger of LTIMindtree. This resignation follows several other high-profile exits from LTIMindtree since the merger in November 2022. The company reported mixed results for the December quarter, with revenues of $1.08 billion and a net profit of $140.5 million.

L&T to buy 21% stake in cloud services firm E2E Networks

VCCircle

VCCircle · 7m ago

L&T to buy 21% stake in cloud services firm E2E Networks

Indian engineering conglomerate Larsen & Toubro (L&T) has agreed to acquire a 21% stake in cloud services firm E2E Networks in a deal worth INR 1,407 crore ($186.2m). L&T will initially invest INR 1,079.27 crore for a 15% stake, followed by an additional 6% stake for INR 327.75 crore. Although the company will become a minority shareholder, it aims to leverage E2E Networks' artificial intelligence and cloud solutions to strengthen its position in the cloud infrastructure market. This partnership is expected to benefit both companies in tapping into India's growing demand for AI and cloud capabilities.

Supply-chain finance programs seeing cuts as companies face high interest rates

Livemint

Livemint · 12m ago

Supply-chain finance programs seeing cuts as companies face high interest rates

Big companies like AT&T, Keurig Dr Pepper, and Krispy Kreme are reducing their use of supply-chain or vendor financing due to rising interest rates. Supply-chain financing allows buyers to delay payment to vendors and is not counted as debt on balance sheets. However, increasing interest rates have made this financing option costly for some companies. AT&T is paying down its high-cost program, while Keurig Dr Pepper is renegotiating terms with vendors. Despite concerns about liquidity risks and potential misuse, supply-chain financing remains beneficial for many companies looking to boost cash without borrowing or issuing debt.

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