L&T bags order: Larsen & Toubro (L&T) has clinched substantial contracts from the Ministry of Defence valued within the "Major" category in the range of Rs 5,000 to Rs 10,000 crore. The contracts involve the supply of critical equipment to the Indian Air Force (IAF), aimed at boost its operational capabilities.

Under these contracts, L&T is tasked with providing High Power Radars (HPR) and Close-In Weapon Systems (CIWS) to the IAF. The HPR systems, designed for extended-range aerial surveillance, are intended to enhance the IAF's monitoring capabilities across strategic zones. With features facilitating remote operations, the HPR project is slated for deployment across multiple locations to bolster the nation's defence preparedness.

Concurrently, L&T will deliver CIWS, a comprehensive defence system tailored to counter low-flying aerial threats, including Unmanned Aerial Vehicles (UAVs). Comprising Air Defence Guns, Tracking Radars, Search Radars, and a Command & Control Shelter, the CIWS highlights India's resolve to safeguard vital assets against evolving security challenges.

Leveraging its state-of-the-art manufacturing facilities and collaborating with an extensive industrial ecosystem, including Micro, Small, and Medium Enterprises (MSMEs), L&T aims to enhance domestic manufacturing capabilities while strengthening India's position as a global player in defence technology.

The shares of L&T rose 5.19 per cent to an intraday high of Rs 3685.35 apiece on the National Stock Exchange (NSE) on Friday, March 1, 2024.