Larsen & Toubro (L&T) rallied 4.18% to Rs 3,627 after the EPC major announced that it received major contract from the Ministry of Defence for the supply of high power radars (HPR) to the Indian Air Force (IAF).
As per Larsen & Toubro's (L&T) classification, the value of the major' contract lies between Rs 5,000 crore and Rs 10,000 crore.
HPR is a static sensor for long range aerial surveillance with higher uptime. Equipped with multiple NextGen features and capable of remote operations, they will augment IAFs capabilities for monitoring special zones of interest, designating and tracking adversaries with optimal accuracy. The project is turnkey in nature and is to be executed across multiple locations.
L&T also signed a contract, for an earlier won major order, for the supply of indigenously developed close-in weapon systems (CIWS) to the IAF. CIWS is planned for deployment at various locations across India to protect vital assets from all types of low flying, low signature aerial threats including unmanned aerial vehicles. CIWS comprises air defence guns, tracking radars and a search radar linked to a command & control shelter along with associated simulators and communication equipment.
CIWS and HPR shall be realised at L&Ts manufacturing facilities, in close collaboration with industrial ecosystem partners comprising micro, small and medium enterprises (MSMEs) across India.
Meanwhile, the company has commissioned its first indigenously manufactured electrolyser at the green hydrogen plant in Hazira, Gujarat. This accomplishment signifies L&T Electrolysers foray into domestic electrolyser manufacturing, underscoring the company's steadfast dedication to propelling sustainable energy solutions.
Larsen & Toubro (L&T) is an Indian multinational engaged in EPC Projects, hi-tech manufacturing and services. It operates in over 50 countries worldwide. A strong, customer focused approach and the constant quest for top class quality has enabled L&T to attain and sustain leadership in its major lines of business for eight decades.
The EPC company reported 15.45% jump in consolidated net profit to Rs 2,947.36 crore on 18.84% increase in revenue from operations to Rs 55,127.82 crore in Q3 FY24 over Q3 FY23.
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