Vardah, the most intense cyclone to have hit the Tamil Nadu capital in two decades, hit the shipyard hard, blowing away the roof of the workshop, while at least four vessels for which the company was looking for customers were damaged.
Larsen and Toubro Hydrocarbon Engineering Ltd, a wholly-owned subsidiary of Larsen and Toubro, today unveiled high-tech spool base facilities, required for a sub-sea project of ONGC, at its Kattupalli fabrication unit near here.
Nomura retains buy rating on L&T stating it is at the cusp of a turnaround. It has set a target price of Rs 1744 per share, indicating 17.8 percent premium. Shares of the company rose 2 percent intraday on Monday.
"Adani Group company has received letter of award for development of the Vizhinjam International Deepwater Seaport Project from Government of Kerala," said the port developer in its filing.
Adani Ports & Special Economic Zone (APSEZ) is looking at ports in Karaikal, Kattupalli and Gangavaram with the intention of acquiring one of them as the firm aims to expand its presence in the port business.
Engineering major Larsen and Toubro's shipyard being set up at Kattupalli near here would become operational by coming January, a top company official said today.