Larson and Toubro's shares flew 2 per cent on the NSE (National Stock Exchange) after the company's exchange filing revealed that it had won an order to supply K9 Vajra-T Artillery Platforms to Indian Army.
L&T classifies the order as a 'Major Order' is worth between Rs 5,000 crore to 10,000 crore, according to exchange filling.
The shares of L&T jumped almost 2 per cent to and touch the day high level of Rs 3,700.00 per share at opening bell level on the exchanges before loosing the initial gains and trading close to day low level of Rs 3,636.10 per share.
L&T shares were trading around Rs 3,655.65 per share on the bourses with a tiny lead of 0.71 per cent with amounting to a Rs 25.80 per share on the NSE (National Stock Exchange).
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First batch of K9T Vajra T in 2017
The first batch of 100 K9 Vajra-T platforms was awarded to L&T in 2017 following a successful field evaluation and a worldwide competitive bidding process. The company's ability to design, develop, and manufacture such intricate defense systems was demonstrated when it delivered the Vajra Platforms ahead of schedule. Since launch, these platforms have operated remarkably well.
The second batch of the K9 Vajra-T will be produced at our Armoured Systems Complex in Hazira, Gujarat, just like the first batch. Since Hon. PM Modi dedicated the state-of-the-art manufacturing facility to the country in January 2019, it has been instrumental in creating and constructing armored and artillery platforms within an integrated industrial ecosystem that includes multiple MSME.
L&T Q2 FY25
Compared to Rs3,223 crore during the same period last year, Larsen and Toubro reported a 5 per cent increase in net profit to Rs 3,395 crore as a result of higher income.
The second quarter of the current fiscal year saw a 21 per cent increase in operating revenue for India's largest infrastructure company by market capitalization, reaching Rs 61,554 crore, up from Rs 51,024 crore during the same period last year.
