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Shares of Larsen and Toubro Ltd. gained on Wednesday, September 24, after the company said it has formed a strategic partnership with Bharat Electronics Ltd. (BEL) to support the Indian Air Force's advanced medium combat aircraft programme.
L&T said the consortium will participate in the expression of interest notice issued by the Centre's Aeronautical Development Authority by submitting a response in the coming weeks.
L&T said the partnership will leverage its expertise in developing strategic defence and aerospace platforms, with BEL's experience in defence electronics and systems. They will jointly contribute to India's fifth generation fighter aircraft, it said.
In the past, L&T and BEL have supplied major aero-structure modules and developing mission-critical avionics and electronic systems of India's indigenous Light Combat Aircraft programme.
"Both the organisations are leaders in our respective domains and our combined efforts will play a crucial role in bolstering national security and advancing self-reliance in defence technologies," S N Subrahmanyan, Chairman & Managing Director, L&T, said.
On Monday, L&T inked an MoU with ACWA Power for the renewables and grid scope of the Yanbu Green Ammonia Project in Saudi Arabia.
Last week, L&T won orders worth up to ₹15,000 crore. Of these, two were 'large' orders and the other two were 'significant'.
L&T shares were up 0.4% at ₹ 3,671.1 apiece around 10 am on Wednesday. The stock has gained 1.9% in the last month and 5.5% in the last six months.
Also Read: MCX gold achieves this landmark for the first time in 20-year history
L&T said the consortium will participate in the expression of interest notice issued by the Centre's Aeronautical Development Authority by submitting a response in the coming weeks.
L&T said the partnership will leverage its expertise in developing strategic defence and aerospace platforms, with BEL's experience in defence electronics and systems. They will jointly contribute to India's fifth generation fighter aircraft, it said.
In the past, L&T and BEL have supplied major aero-structure modules and developing mission-critical avionics and electronic systems of India's indigenous Light Combat Aircraft programme.
"Both the organisations are leaders in our respective domains and our combined efforts will play a crucial role in bolstering national security and advancing self-reliance in defence technologies," S N Subrahmanyan, Chairman & Managing Director, L&T, said.
On Monday, L&T inked an MoU with ACWA Power for the renewables and grid scope of the Yanbu Green Ammonia Project in Saudi Arabia.
Last week, L&T won orders worth up to ₹15,000 crore. Of these, two were 'large' orders and the other two were 'significant'.
L&T shares were up 0.4% at ₹ 3,671.1 apiece around 10 am on Wednesday. The stock has gained 1.9% in the last month and 5.5% in the last six months.
Also Read: MCX gold achieves this landmark for the first time in 20-year history
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