Larsen & Toubro’s CFO R Shankar Raman shares his perspective on Saudi Aramco’s decision to pause its expansion plans, stating that it is a stocktaking measure rather than a suspension. Raman believes that this pause is in line with Saudi Arabia’s 2030 vision and expects L&T to continue executing projects worth $16 billion for Aramco. He also discusses the opportunities in offshore wind projects and updates on L&T’s semiconductor business.
Manipal Technologies, the leading manufacturer of banking and smart cards in India, is seeking a financial partner through a stake sale at a valuation of ₹4,000-4,200 crore ($500 million). This transaction will allow the exit of minority shareholders and raise funds for expansion. The investment bank Rothschild will handle the stake sale process, which has attracted the interest of private equity funds.
