Shares of Larsen and Toubro (L&T) rose almost to 2% on 23 December after the company announced securing a major contract for supplying K9 Vajra-T Artillery Platforms from the Ministry of Defence. 

In its regulatory filing, the company said, “The Ministry of Defence, Government of India, has awarded a major contract to Larsen & Toubro (L&T) for the supply of K9 Vajra-T Artillery Platforms to the Indian Army.” 

The order value ranges between Rs 5,000 crore to Rs 10,000 crore.

The K9 Vajra-T is a 155 mm, 52-calibre tracked self-propelled artillery platform that was developed by L&T and Hanwha Aerospace. It was adapted from the best South Korean self-propelled howitzer in the world, K9 Thunder, to meet the unique requirements of the Indian Army for operations in a range of environments, including plains, deserts, and high-altitude regions. 

L&T was given the first 100 K9 Vajra-T platforms in 2017 after a successful field test and international competitive bidding. 

Arun Ramchandani, senior VP & head – L&T Precision Engineering & Systems, said, “Like the first batch, the second batch of the K9 Vajra-T too will be manufactured at our Armoured Systems Complex at Hazira in Gujarat. The state-of-the-art manufacturing facility was dedicated to the nation by Honourable Prime Minister Shri Narendra Modi in Jan 2019 and it has since been playing a key role in developing and building armoured and artillery platforms in an integrated industrial ecosystem comprising of several MSME partners.”

However, at 1:40 pm, the shares of Larsen and Toubro shed all their early gains and were trading 0.12% lower at Rs 3,625.55 on NSE.

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