Larsen & Toubro Ltd (LART.BO)
31 Aug 2015
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** Nomura downgrades Cummins India to "reduce' from "" citing expensive valuations
MUMBAI - The BSE Sensex and Nifty fell on Friday as weak results of industrial goods makers raised fresh concerns over a much-anticipated recovery in India's investment cycle and earnings growth, while caution also prevailed ahead of U.S. jobs data due later in the day.
** State run Bharat Heavy Electricals falls 8 pct after its June-quarter profit declined by 82.5 percent
NEW DELHI/MUMBAI - Industrial giant Larsen & Toubro Ltd criticised on Friday the "unhurried pace" of government reforms for weakening investment in its home market, as it reported a 37 percent slide in first-quarter profit.
* Proposes to sell shares in L&T Infotech Ltd (Adds management comments, details, industry context)
* Exec says guidance for growth in revenue and order inflow for FY16 unchanged at 15 pct Further company coverage: (Reporting By Aman Shah in MUMBAI)
NEW DELHI, July 31 - India's Larsen & Toubro Ltd reported on Friday a net profit of 6 billion rupees ($93.6 million) for its first quarter, more than a third down on the previous year, and the engineering giant said the short-term business environment remained "challenging".
** Expects slow execution and order inflows in first half of 2015
MUMBAI - The BSE Sensex ended nearly 1 percent lower on Friday, dragged down by ICICI Bank on concerns over its exposure to debt-laden Jaiprakash Group, while Reliance Industries fell ahead of its quarterly results later in the day.