This Large Cap Company Bags Defence Orders Worth Over Rs 13,000 Cr From Indian Air Force; Shares Soar

Larsen & Toubro Ltd (L&T), the distinguished infrastructure, engineering, and defence conglomerate, has secured a monumental contract with the Indian Air Force. The company announced this through an exchange filing, revealing that the contract's total value stands at Rs 13,000 crore.

This major undertaking encompasses the supply of cutting-edge High Power Radars (HPR), which are static sensors designed for long-range surveillance with exceptional uptime. The project, labelled as "turnkey" in nature, is slated for execution across multiple locations, showcasing the extensive scope of L&T's involvement.

In a parallel triumph, L&T has also inked a deal for a previously won "major" order concerning the supply of indigenously developed Close-In Weapon Systems (CIWS) to the Indian Air Force. These systems are strategically planned for deployment at various locations across the country to safeguard vital assets from diverse low-flying, low-signature aerial threats, including unmanned aerial vehicles.

The CIWS package includes a setup comprising Air Defense Guns, Tracking Radars, and a Search Radar intricately linked to a command and control shelter. The Ministry of Defence, in a release on PIB, disclosed that the CIWS procurement contract is valued at Rs 7,668.82 crore, while the High Power Radar contract stands at Rs 5,700.13 crore.

Both the CIWS and HPR projects are slated to materialize at L&T's state-of-the-art manufacturing facilities, showcasing a collaborative effort with MSME partners across India's industrial ecosystem.

During the second phase of the special trading session on March 2 (Saturday), Larsen & Toubro's shares demonstrated robust performance, recording gains of more than 5% at Rs 3,652.65 per share as of 12:20 pm. Over the last 12 months, L&T shares have experienced a substantial 72% rise, marking this as the most significant single-day gain since July 2022.