Ministry of Defence has awarded a major contract for the supply of K9 Vajra-T Artillery Platforms to the Indian Army. The advanced, self-propelled artillery platform, co-developed with Hanwha Aerospace, is designed for diverse operational terrains and conditions.
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Share price movement of L&T:
On December 23, 2024, Larsen & Toubro Ltd. opened at ₹3,673.80, up 1.19% from its previous close of ₹3,630.60. The stock reached a high of ₹3,690.00 (1.63%) and a low of ₹3,636.90. By 11:06 AM, it traded at ₹3,654.55, a 0.66% increase, with a market cap of ₹5,02,727.13 crore.
L&T wins ₹10,000 crore defense contract:
Larsen & Toubro (L&T) has secured a significant contract from the Ministry of Defence for the supply of K9 Vajra-T Artillery Platforms to the Indian Army. The K9 Vajra-T, a 155 mm, 52-calibre tracked self-propelled artillery platform, is co-developed with Hanwha Aerospace.
The platform is designed to meet the Indian Army’s diverse operational needs, including deployment in challenging terrains such as deserts, plains, and high-altitude regions. L&T’s successful delivery of the first batch in 2017, ahead of schedule, highlights its ability to develop advanced defense solutions.
The K9 Vajra-T has proven its operational efficiency and performance since its induction into service. With this new order, L&T reinforces its role as a leader in developing cutting-edge defense systems tailored to the needs of the Indian military.
Recent news on L&T:
As of November 29, 2024, Larsen & Toubro (L&T) was penalized ₹173.24 crore by the Joint Commissioner, CGST, and Central Excise, Bhopal, for assessment years 2017-18 to 2021-22 under the Central Goods & Services Tax Act, 2017.
Stock performance of L&T for Period of 1 week, 6 months and 1 year:
Larsen & Toubro Ltd. has experienced a 6.40% decline in stock value over the past week. However, the company has seen a slight growth of 0.75% over the last 6 months and a 4.37% increase over the past year.
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Shareholding pattern of L&T:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
| Promoter | 0.00% | 0.00% | 0.00% |
| FII | 21.70% | 22.90% | 24.40% |
| DII | 40.80% | 39.30% | 38.40% |
| Public | 37.50% | 37.90% | 37.20% |
About L&T:
Larsen & Toubro Ltd (NSE: LT) is a $27 billion Indian multinational specializing in EPC projects, hi-tech manufacturing, and services. With over 80 years of leadership, L&T thrives on a customer-focused approach and commitment to top-quality standards.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
