L&T Defence bags contracts from Ministry of Defence for Pinaka Weapon Systems

The defence arm of Larsen & Toubro, India's leading EPC Projects, Manufacturing, Defence and Services conglomerate, has been awarded a Significant Contract by the Indian Ministry of Defence (MoD) for the Supply of four Regiments of Pinaka Weapon Systems.

The contract involves supply of Pinaka Launchers, Battery Command Posts and associated Engineering Support Package (ESP) for four Regiments. The Pinaka Launch system has been indigenously developed by L&T as part of Pinaka development program of Defence Research & Development Organization (DRDO, ARDE) and functions as a high tech, all weather, long range, area fire artillery weapon system.

Commenting on this development, Mr JD Patil, Member of the Board and Sr. Executive Vice President (Defence & Smart Technologies), Larsen & Toubro said, "As a proponent of Aatmanirbhar Bharat philosophy from inception and a practicing Make-in-India company, we have been associated with the Pinaka program since its development in the nineties, and induction in Armed Forces and serial production since one and a half decade. We continue to live up to our ethos to build Strong India and commitment to the Nation by producing high-class weapon systems within scheduled time frames and will keep up to that for these orders as well. We are glad that the MoD and the Armed Forces have trusted us to produce front line weapon systems and keeping to their tag line 'Wining Indian Wars with Indian Solutions' and furthering the Aatmanirbhar Bharat initiative."

L&T has already executed similar orders from Ministry of Defence and supplied two Regiments of Pinaka systems earlier. With these orders, L&T takes pride in attaining cumulative six out of ten Regiments of Pinaka systems with the Indian Army. L&T Defence is also engaged with DRDO for future developments on this artillery system.

L&T has built in-house capabilities and capacities over three and a half decades to provide indigenous Defence solutions (Land, Sea and under-water application) by building competencies in Conceptualisation, Design, Analysis, Engineering, Embedded Software, Manufacturing, Assembly, Integration, Testing and Through Life Support to the Armed Forces over the Life Cycle of the Equipment, Systems and Platforms towards attaining Self-reliance in this Critical Sector and contribute to Nation building.

Shares of LARSEN & TOUBRO LTD. was last trading in BSE at Rs.961.05 as compared to the previous close of Rs. 955.75. The total number of shares traded during the day was 163246 in over 8823 trades.

The stock hit an intraday high of Rs. 970.85 and intraday low of 954.1. The net turnover during the day was Rs. 156868773.

Source : Equity Bulls

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