L&T rises on partnering with BAE Systems to bring AATV to Indian market
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Larsen & Toubro is currently trading at Rs. 2915.95, up by 7.85 points or 0.27% from its previous closing of Rs. 2908.10 on the BSE.
The scrip opened at Rs. 2929.00 and has touched a high and low of Rs. 2932.80 and Rs. 2906.20 respectively. So far 46139 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 3008.00 on 12-Sep-2023 and a 52 week low of Rs. 1798.00 on 29-Sep-2022.
Last one week high and low of the scrip stood at Rs. 3008.00 and Rs. 2875.00 respectively. The current market cap of the company is Rs. 410027.73 crore.
The Institutions and Non-Institutions held 63.54% and 36.46%, stake in the company, respectively.
Larsen & Toubro (L&T) and BAE Systems Inc have partnered to bring the world-leading Articulated All-Terrain Vehicle (AATV), the BvS10, to the Indian market. The two companies have signed an agreement to offer the BvS10 for an Indian Armed Forces programme. Under the agreement, L&T is the prime bidder for the Indian market, with the support of BAE Systems Hagglunds, the Swedish manufacturer of the highly successful BvS10 family of vehicles. BAE Systems and L&T have upgraded the BvS10 to meet the specific requirements of the Indian Armed Forces. This new variant will be known as the ‘BvS10-Sindhu’. The AATV programme aims to deliver vehicles from L&T’s Armoured Systems Complex, Hazira along with integrated logistic support (ILS).
The BvS10 vehicle on display at Defence and security equipment international (DSEI) in London this week features a Mobile Short Range Air Defense system (MSHORAD) configuration. This demonstrates the versatility of the vehicle, evolving into a modular fighting platform which can carry a broad array of payloads addressing almost any threat in the modern operating environment without impacting the under-armor volume.
The BvS10’s articulated mobility, provides optimal maneuverability across varying terrains including snow, ice, rock, sand, mud, swamps, and steep mountain environments. The vehicle’s amphibious features also allow it to swim in flooded areas or coastal waters. It can deliver personnel and supplies as well as mounted lethality to address any threat in the modern operating environment.
L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services.
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