Larsen & Toubro
Larsen & Toubro Limited known as L&T Limited is one of the largest Indian multi-national firms and leading Indian construction company headquartered in Mumbai, India. It was founded by two Danish engineers taking refuge in India; the company has business interests in heavy engineering, manufacturing of capital goods, information technology, financial services. As at March 31, 2018, L&T Group comprises 93 subsidiaries, 8 associates, 34 joint-venture and 33 joint operations companies. Larsen & Toubro originated from a company founded in 1938 in Mumbai by two Danish engineers, Henning Holck-Larsen and Søren Kristian Toubro; the company began as a representative of Danish manufacturers of dairy equipment. However, with the start of the Second World War in 1939 and the resulting restriction on imports, the partners started a small workshop to undertake jobs and provide service facilities. Germany's invasion of Denmark in 1940 stopped supplies of Danish products; the war-time need to repair and refit ships offered L&T an opportunity, led to the formation of a new company, Hilda Ltd, to handle these operations.
L&T started to repair and fabricate ships signalling the expansion of the company. The sudden internment of German engineers in British India, who were to put up a soda ash plant for the Tata's, gave L&T a chance to enter the field of installation. In 1944, ECC was incorporated by the partners. L&T began several foreign collaborations. By 1945, the company represented British manufacturers of equipment used to manufacture products such as hydrogenated oils, biscuits and glass. In 1945, the company signed an agreement with Caterpillar Tractor Company, USA, for marketing earth moving equipment. At the end of the war, large numbers of war-surplus Caterpillar equipments were available at attractive prices, but the finances required were beyond the capacity of the partners; this prompted them to raise additional equity capital, on 7 February 1946, Larsen & Toubro Private Limited was incorporated. After India's independence in 1947, L&T set up offices in Calcutta and New Delhi. In 1948, 55 acres of undeveloped marsh and jungle was acquired in Mumbai.
A uninhabitable swamp subsequently became the site of its main manufacturing hub. In December 1950, L&T became a public company with a paid-up capital of ₹20 lakh; the sales turnover in that year was ₹1.09 crore. In 1956, a major part of the company's Mumbai office moved to ICI House in Ballard Estate, which would be purchased by the company and renamed as L&T House, its present headquarters. During the 1960s, ventures included UTMAL, Audco India Limited, Eutectic Welding Alloys and TENGL. L&T formed a joint venture with SapuraCrest Petroleum Berhad, Malaysia for providing services to the offshore construction industry; the joint venture operates the LTS 3000, a crane vessel for heavy lifting and pipe-laying. L&T Power has set up an organisation focused on gas-based and nuclear power projects. L&T has formed two joint ventures with Mitsubishi Heavy Industries, Japan to manufacture super critical boilers and steam turbine generators. L&T is among the largest five fabrication companies in the world.
L&T has a shipyard capable of constructing vessels of up to 150 metre long and displacement of 20,000 tons at its heavy engineering complex at Hazira, Gujarat. The shipyard constructs specialised heavy-lift ships, CNG carriers, chemical tankers, defence & para-military vessels and other role-specific vessels; the design wing of L&T ECC is EDRC, which provides consultancy and services. It carries out detailed design for both residential and commercial projects. L&T Realty is the real estate development arm of Toubro; the company operates in Western and Southern India, constructing residential, corporate office, retail and entertainment properties with 35 million sq ft under various stages of development. L&T Technology Services.. A subsidiary of Larsen & Toubro, is an engineering services company that operates in the global Engineering and Development space. L&T Technology Services offers design and testing services for the industrial products, medical devices, aerospace and process industries.
The company serves customers across the product engineering life cycle from product conceptualization to implementation. Services include consulting, development, maintenance and to-market integration services. L&T Technology hits the Indian Capital Markets with its IPO offering 10.4 million share at a price band of Rs.850 to Rs.860 L&T Solar, a subsidiary of Larsen & Toubro, undertakes solar energy projects. In April 2012, L&T commissioned India's largest solar photovoltaic power plant owned by Reliance Power at Jaisalmer, Rajasthan from concept to commissioning in 129 days. In 2011, L&T entered into a partnership with Sharp for EPC in megawatt solar project and plan to construct about 100 MW in the next 12 months in most of the metros. L&T Infra Finance, promoted by the parent L&T Ltd, is active in the funding of solar projects in India. L&T is an international manufacturer of electronic products and systems; the company manufactures custom-engineered switchboards for industrial sectors like power, refineries and cement.
In the electronic segment, L&T offers a range of metres and provides control and automation systems for industries. L&T used to op
Bombay Stock Exchange
The Bombay Stock Exchange is an Indian stock exchange located at Dalal Street, Mumbai. Established in 1875, the BSE is Asia's first stock exchange; the BSE is the world's 10th largest stock exchange with an overall market capitalization of more than $4.9 trillion on as of April 2018. Bombay stock Exchange was founded by Premchand Roychand, he was one of the most influential businessmen in 19th-century Bombay. A man who made a fortune in the stockbroking business and came to be known as the Cotton King, the Bullion King or just the Big Bull, he was the founder of the Native Share and Stock Brokers Association, an institution, now known as the BSE. While BSE Ltd is now synonymous with Dalal Street, it was not always so; the first venue of the earliest stock broker meetings in the 1850s was in rather natural environs - under banyan trees - in front of the Town Hall, where Horniman Circle is now situated. A decade the brokers moved their venue to another set of foliage, this time under banyan trees at the junction of Meadows Street and what is now called Mahatma Gandhi Road.
As the number of brokers increased, they had to shift from place to place, but they always overflowed to the streets. At last, in 1874, the brokers found a permanent place, one that they could, quite call their own; the new place was, called Dalal Street. The Bombay Stock Exchange is the oldest stock exchange in Asia, its history dates back to 1855, when 22 stockbrokers would gather under banyan trees in front of Mumbai's Town Hall. The location of these meetings changed many times to accommodate an increasing number of brokers; the group moved to Dalal Street in 1874 and became an official organization known as "The Native Share & Stock Brokers Association" in 1875. On August 31, 1957, the BSE became the first stock exchange to be recognized by the Indian Government under the Securities Contracts Regulation Act. In 1980, the exchange moved to the Phiroze Jeejeebhoy Towers at Fort area. In 1986, it developed the S&P BSE SENSEX index, giving the BSE a means to measure the overall performance of the exchange.
In 2000, the BSE used this index to open its derivatives market, trading S&P BSE SENSEX futures contracts. The development of S&P BSE SENSEX options along with equity derivatives followed in 2001 and 2002, expanding the BSE's trading platform. An open outcry floor trading exchange, the Bombay Stock Exchange switched to an electronic trading system developed by CMC Ltd. in 1995. It took the exchange only 50 days to make this transition; this automated, screen-based trading platform called BSE On-Line Trading had a capacity of 8 million orders per day. The BSE has introduced a centralized exchange-based internet trading system, BSEWEBx.co.in to enable investors anywhere in the world to trade on the BSE platform. Now BSE has raised capital by issuing shares and as on 3 May 2017 the BSE share, traded in NSE only closed with Rs.999. The BSE is a Partner Exchange of the United Nations Sustainable Stock Exchange initiative, joining in September 2012. BSE established India INX on 30 December 2016. India INX is the first international exchange of India.
BSE launches commodity derivatives contract in silver. Stock market crashes in India Clause 49 National Stock Exchange of India List of South Asian stock exchanges List of stock exchanges in the Commonwealth of Nations SAMCO Securities SECURITY ANALYSIS AND PORTFOLIO MANAGEMENT "M. RANGABATHAN, R. MADHUMATI" Official website
The Asiatic Society of Mumbai
The Asiatic Society of Mumbai is a learned society in the field of Asian studies based in Mumbai, India. It can trace its origin to the Literary Society of Bombay which first met in Mumbai on 26 November 1804, was founded by Sir James Mackintosh, it was formed with the intention of "promoting useful knowledge such as is now connected with India". After the Royal Asiatic Society of Great Britain and Ireland was established in London in 1823, the Literary Society of Bombay became affiliated with it and was known as the Bombay Branch of the Royal Asiatic Society since 1830; the Bombay Geographical Society merged with it in 1873, followed by the Anthropological Society of Bombay in 1896. In 1954, it was renamed the Asiatic Society of Bombay. In 2002, it acquired its present name, it is funded by an annual grant from the Central Government of India. The library of the Society has over a hundred thousand books out of which 15,000 are classified as rare and valuable, it has priceless artifacts and over 3,000 ancient manuscripts in Persian and Prakrit on paper but some on palm leaf.
The numismatic collection of 11,829 coins includes a gold coin of Kumaragupta I, a rare gold mohur of Akbar and coins issued by Shivaji. Its map collection comprises 1300 maps; the collection of the Society include: One of only two known original copies of Dante's Divine Comedy. The manuscript of Vasupujyacharita, a Sanskrit text on the life of the Jain Tirthankara Vasupujya; the manuscript of Shahnama of Firdausi, written in Persian. The Aranyakaparvan manuscript contains illustrated text from the Mahabharat and is written in Sanskrit. Five Buddhist caskets excavated in the ancient port town of Sopara near the suburb of Nala Sopara; the manuscript of the Divine Comedy, a poem composed by Dante Alighieri in the 14th century, was written in the second half of the 15th century. It is a beautiful codex on parchment and richly illustrated, it was given to the Society by Mountstuart Elphinstone, governor of Bombay and President of the Society from 1819–1827 and bears his signature. In 1930, the Italian government under Benito Mussolini offered the society one million pounds, calling the book a national treasure.
Mussolini believed that the offer could not be refused, but to his shock, the Society turned down his request stating that it was donated by an ex-member of the Society and hence it was their property. Holding: Preserving, conserving and documenting holdings. Research: Generating supporting and disseminating research in its chosen fields. Public interface: Providing a forum for debate and discussions on topics of public interest; the adopt-a-book scheme was introduced by the Society which allows patrons to fund the upkeep of rare books. The Society is financially in the red with a loss of Rs 1 crore. Due to the availability of information from the internet, membership has dropped in recent years; the Literary Society of Bombay published its transactions under the title, Transactions of the Literary Society of Bombay. In 1841, the Asiatic Society of Bombay commenced publishing its journal titled, Journal of the Bombay Branch of the Royal Asiatic Society. From 1955 to 2002, it published its journal under the name, Journal of the Asiatic Society of Bombay and from 2002, its journal has been published under the name, Journal of the Asiatic Society of Mumbai.
The Campbell Memorial Gold Medal was established in 1907 and is awarded to recognize distinguished services on the subject of Oriental History, Folklore or Ethnology which further the investigation and encouragement of Oriental Arts and Literature. The first winner was archaeologist Aurel Stein in 1908. Established in 1946, the medal is awarded for valuable research work in Vedic Studies or in Classical Sanskrit with special reference to Dharma Shastra and Poetics; the Silver Medal is awarded to a member of the Society who has written a book adjudged as the best in the given 3-year period. The Town Hall that houses the Asiatic Society of Bombay was not built in 1804, the year in which the Literary Society of Bombay was formed. Though Sir James Mackintosh mooted the proposal for a grand edifice, it was not completed until the year 1833 after many fits and starts, when the Government of Bombay agreed to make up for the shortfall in funds in return for office-space; the after-effects of this compromise can still be seen in the unseemly crowds gathered at the Stamp Office and other government departments in the Town Hall.
It is now classified a heritage structure. Influenced by Greek and Roman architecture, it has a portico with eight Doric columns. A flight of 30 steps lead up to the town hall and a wrought iron divided Regency staircase leads to the vestibule. In 1830 Sir John Malcolm, governor of Bombay stated: "It is the most magnificent structure that taste and munificence combined have as yet erected in India." The edifice is in the prime Fort area of South Mumbai overlooking the Horniman Circle Gardens and the Reserve Bank of India. Literary Society of Bombay 1804 Hon. Sir James Mackintosh 1811 Dr R. Stewart 1815 William Taylor Money 1818 Olyett Woodhouse 1819 Hon. Mountstuart Elphinstone 1827 Sir John Malcolm Bombay Branch of the Royal Asiatic Society 1830 John Romer 1831 Lt-Col Vans Kennedy 1835 Rev. John Wilson, FRS 1843 Hon. George William Anderson 1846 Hon. Lestock Robert Reid 1849 Hon. John Pollard Willoughby 1853 Rev. John Stevenson 1855 Hon. William Edward Frere 1864 Hon. Justice Henry Newton 1869 Hon. Henry Pendock St Geor
Dalal Street in downtown Mumbai, India, is the address of the Bombay Stock Exchange and several related financial firms and institutions. When Bombay Stock Exchange was moved to this new location at the intersection of Bombay Samāchār Marg and Hammam Street, the street next to the building was renamed as Dalal Street; the Marathi word dalāl means "a broker", "a go-between". Similar to Wall Street in the New York City, it is used as a metonym for the entire Indian financial industry. Bombay Stock Exchange Phiroze Jeejeebhoy Towers Phiroze Jamshedji Jeejeebhoy Fort Economy of India Economy of Mumbai Bombay Stock Exchange — official web site National Stock Exchange official web site Dalalstock.in - official web site
Modern architecture, or modernist architecture was based upon new and innovative technologies of construction the use of glass and reinforced concrete. It emerged in the first half of the 20th century and became dominant after World War II until the 1980s, when it was replaced as the principal style for institutional and corporate buildings by postmodern architecture. Modern architecture emerged at the end of the 19th century from revolutions in technology and building materials, from a desire to break away from historical architectural styles and to invent something, purely functional and new; the revolution in materials came first, with the use of cast iron, plate glass, reinforced concrete, to build structures that were stronger and taller. The cast plate glass process was invented in 1848, allowing the manufacture of large windows; the Crystal Palace by Joseph Paxton at the Great Exhibition of 1851 was an early example of iron and plate glass construction, followed in 1864 by the first glass and metal curtain wall.
These developments together led to the first steel-framed skyscraper, the ten-story Home Insurance Building in Chicago, built in 1884 by William Le Baron Jenney. The iron frame construction of the Eiffel Tower the tallest structure in the world, captured the imagination of millions of visitors to the 1889 Paris Universal Exposition. French industrialist François Coignet was the first to use iron-reinforced concrete, that is, concrete strengthened with iron bars, as a technique for constructing buildings. In 1853 Coignet built the first iron reinforced concrete structure, a four-story house in the suburbs of Paris. A further important step forward was the invention of the safety elevator by Elisha Otis, first demonstrated at the Crystal Palace exposition in 1852, which made tall office and apartment buildings practical. Another important technology for the new architecture was electric light, which reduced the inherent danger of fires caused by gas in the 19th century; the debut of new materials and techniques inspired architects to break away from the neoclassical and eclectic models that dominated European and American architecture in the late 19th century, most notably eclecticism and Edwardian architecture, the Beaux-Arts architectural style.
This break with the past was urged by the architectural theorist and historian Eugène Viollet-le-Duc. In his 1872 book Entretiens sur L'Architecture, he urged: "use the means and knowledge given to us by our times, without the intervening traditions which are no longer viable today, in that way we can inaugurate a new architecture. For each function its material; this book influenced a generation of architects, including Louis Sullivan, Victor Horta, Hector Guimard, Antoni Gaudí. At the end of the 19th century, a few architects began to challenge the traditional Beaux Arts and Neoclassical styles that dominated architecture in Europe and the United States; the Glasgow School of Art designed by Charles Rennie MacIntosh, had a facade dominated by large vertical bays of windows. The Art Nouveau style was launched in the 1890s by Victor Horta in Belgium and Hector Guimard in France. In Barcelona, Antonio Gaudi conceived architecture as a form of sculpture. In 1903–1904 in Paris Auguste Perret and Henri Sauvage began to use reinforced concrete only used for industrial structures, to build apartment buildings.
Reinforced concrete, which could be molded into any shape, which could create enormous spaces without the need of supporting pillars, replaced stone and brick as the primary material for modernist architects. The first concrete apartment buildings by Perret and Sauvage were covered with ceramic tiles, but in 1905 Perret built the first concrete parking garage on 51 rue de Ponthieu in Paris. Henri Sauvage added another construction innovation in an apartment building on Rue Vavin in Paris. Between 1910 and 1913, Auguste Perret built the Théâtre des Champs-Élysées, a masterpiece of reinforced concrete construction, with Art Deco sculptural bas-reliefs on the facade by Antoine Bourdelle; because of the concrete construction, no columns blocked the spectator's view of the stage. Otto Wagner, in Vienna, was another pioneer of the new style. In his book Moderne Architektur he had called for a more rationalist style of architecture, based on "modern life", he designed a stylized ornamental metro station at Karlsplatz in Vienna an ornamental Art Nouveau residence, Majolika House, before moving to a much more geometric and simplified style, without ornament, in the Austrian Postal Savings Bank.
Wagner declared his intention to express the function of the building in its exterior. The reinforced concrete exterior was covered with plaques of marble attached with bolts of polished aluminum; the interior was purely functional and spare, a large open space of steel and concrete where the only decoration was the structure itself. The Viennese architect Adolf Loos began removing any ornament from his buildings, his S
Mumbai is the capital city of the Indian state of Maharashtra. As of 2011 it is the most populous city in India with an estimated city proper population of 12.4 million. The larger Mumbai Metropolitan Region is the second most populous metropolitan area in India, with a population of 21.3 million as of 2016. Mumbai has a deep natural harbour. In 2008, Mumbai was named an alpha world city, it is the wealthiest city in India, has the highest number of millionaires and billionaires among all cities in India. Mumbai is home to three UNESCO World Heritage Sites: the Elephanta Caves, Chhatrapati Shivaji Maharaj Terminus, the city's distinctive ensemble of Victorian and Art Deco buildings; the seven islands that constitute Mumbai were home to communities of Koli people, who originated in Gujarat in prehistoric times. For centuries, the islands were under the control of successive indigenous empires before being ceded to the Portuguese Empire and subsequently to the East India Company when in 1661 Charles II of England married Catherine of Braganza and as part of her dowry Charles received the ports of Tangier and Seven Islands of Bombay.
During the mid-18th century, Bombay was reshaped by the Hornby Vellard project, which undertook reclamation of the area between the seven islands from the sea. Along with construction of major roads and railways, the reclamation project, completed in 1845, transformed Bombay into a major seaport on the Arabian Sea. Bombay in the 19th century was characterised by educational development. During the early 20th century it became a strong base for the Indian independence movement. Upon India's independence in 1947 the city was incorporated into Bombay State. In 1960, following the Samyukta Maharashtra Movement, a new state of Maharashtra was created with Bombay as the capital. Mumbai is the financial and entertainment capital of India, it is one of the world's top ten centres of commerce in terms of global financial flow, generating 6.16% of India's GDP and accounting for 25% of industrial output, 70% of maritime trade in India, 70% of capital transactions to India's economy. The city houses important financial institutions such as the Reserve Bank of India, the Bombay Stock Exchange, the National Stock Exchange of India, the SEBI and the corporate headquarters of numerous Indian companies and multinational corporations.
It is home to some of India's premier scientific and nuclear institutes like Bhabha Atomic Research Centre, Nuclear Power Corporation of India, Indian Rare Earths, Tata Institute of Fundamental Research, Atomic Energy Regulatory Board, Atomic Energy Commission of India, the Department of Atomic Energy. The city houses India's Hindi and Marathi cinema industries. Mumbai's business opportunities, as well as its potential to offer a higher standard of living, attract migrants from all over India, making the city a melting pot of many communities and cultures; the name Mumbai is derived from Mumbā or Mahā-Ambā—the name of the patron goddess Mumbadevi of the native Koli community— and ā'ī meaning "mother" in the Marathi language, the mother tongue of the Koli people and the official language of Maharashtra. The Koli people originated in Kathiawad and Central Gujarat, according to some sources they brought their goddess Mumba with them from Kathiawad, where she is still worshipped. However, other sources disagree.
The oldest known names for the city are Galajunkja. In 1508, Portuguese writer Gaspar Correia used the name "Bombaim" in his Lendas da Índia; this name originated as the Galician-Portuguese phrase bom baim, meaning "good little bay", Bombaim is still used in Portuguese. In 1516, Portuguese explorer Duarte Barbosa used the name Tana-Maiambu: Tana appears to refer to the adjoining town of Thane and Maiambu to Mumbadevi. Other variations recorded in the 16th and the 17th centuries include: Mombayn, Bombain, Monbaym, Mombaym, Bombaiim, Boon Bay, Bon Bahia. After the English gained possession of the city in the 17th century, the Portuguese name was anglicised as Bombay. Ali Muhammad Khan, imperial dewan or revenue minister of the Gujarat province, in the Mirat-i Ahmedi referred to the city as Manbai; the French traveller Louis Rousselet who visited in 1863 and 1868 tells us in his book L’Inde des Rajahs: "Etymologists have wrongly derived this name from the Portuguese Bôa Bahia, or, not knowing that the tutelar goddess of this island has been, from remote antiquity, Bomba, or Mamba Dévi, that she still... possesses a temple".
By the late 20th century, the city was referred to as Mumbai or Mambai in Marathi, Gujarati and Sindhi, as Bambai in Hindi. The Government of India changed the English name to Mumbai in November 1995; this came at the insistence of the Marathi nationalist Shiv Sena party, which had just won the Maharashtra state elections, mirrored similar name changes across the country and in Maharashtra. According to Slate magazine, "they argued that'Bombay' was a corrupted English version of'Mumbai' and an unwanted legacy of British colonial rule." Slate said "The push to rename Bombay was part of a larger movement to strengthen Marathi identity in the Maharashtra region." While the city is still referred to as Bombay by some of its residents and by Indians from other regions, mention of the ci
Fort (Mumbai precinct)
Fort is a Business District in Mumbai, India. The area gets its name from the defensive fort, Fort George, built by the British East India Company around Bombay Castle; the area extends to Azad Maidan in the west. This area is the heart of the financial area of the city. Many British era structures are located here; the Fort area was declared protected under regulations of the Maharashtra Government Urban Development Department. An advisory committee now oversees the development and renovations of structures in the precinct. Nariman Point Colaba Bandra Kurla Complex CBD Belapur Vashi 18th Century History of Mumbai List of forts in Maharashtra