Group 1 - Larsen & Toubro's Minerals & Metals business has secured multiple large orders in India, including a contract from Hindalco for a 180,000 tonnes per annum aluminium smelter and Gas Treatment Centre in Odisha [1][4] - The company also received an order from Tata Steel for a 1 million tonnes per annum Coke Oven Battery 6 A/B, which includes engineering, manufacturing, supply, construction, and plant installation [2] - The Product Business Unit of the company won various orders for mining and material handling equipment from different clients across India [2] Group 2 - T Kumaresan, Senior Vice President and Head of Minerals & Metals at L&T, highlighted that these wins in the aluminium and steel sectors showcase the company's engineering excellence and execution capability [3] - The orders are expected to strengthen L&T's role in the development of India's industrial infrastructure [3] - L&T has maintained a long-term partnership with Hindalco for over three decades, supporting various expansion programs in alumina, aluminium, and copper plants [4] Group 3 - According to L&T's classification, large orders are valued between ₹2,500 crore and ₹5,000 crore [4] - The shares of Larsen & Toubro Limited were trading at ₹3,927.20, reflecting a slight increase of ₹8.50 or 0.22 percent on the NSE [4]

Core Insights - Astec Industries, Inc. has completed the acquisition of TerraSource Holding, LLC, which is expected to enhance gross profit margins, adjusted EBITDA margins, and earnings per share due to the significant contribution of aftermarket parts and services to TerraSource's revenue [1][6] - The acquisition aligns with Astec's disciplined growth strategy and is anticipated to be accretive from day one, improving the quality of earnings [2][6] - The deal is valued at $245 million in cash, with a net purchase price of $230 million after accounting for anticipated tax benefits [6] Company Overview - Astec is a manufacturer specializing in equipment for asphalt road building, aggregate processing, and concrete production, divided into two main segments: Infrastructure Solutions and Materials Solutions [3] - TerraSource provides industry-leading equipment for various applications, including crushers and waste management solutions, with a legacy of over 100 years [4] Financial Expectations - The acquisition is expected to generate annual run-rate synergies of approximately $10 million by the end of year two [6] - Astec anticipates a proforma net leverage ratio of around 2.0x net debt to adjusted EBITDA for 2025 [6]