L&T, BrahMos unveil naval launcher
Posted on 9th May 2018 |
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| Mumbai: Larsen & Toubro (L&T) and BrahMos Aerospace have unveiled a new quad launcher prototype, heralding another attempt to boost the performance of naval warships. The new prototype provides superior firepower compared to the twin canister and has the capability to launch four missiles in a single or salvo (simultaneous) mode. Besides, the quad launcher is suitable for warships which have space constraints to accommodate a vertical launch module. The quad launcher, which was unveiled after conducting rigorous trials, will hit production once the Navy confirms an order. In that case, the quad launcher will be ready for deployment on naval ships within 18 months, said Jayant Patil, head of L&T’s defence business. The quad launcher will be manufactured at L&T’s Pune facility. The $17-billion engineering and construction giant has been associated with BrahMos, a joint venture between Defence Research and Development Organisation (DRDO) and NPO Mashinostroyenia of Russia, for the development of naval missile programme since 2000. L&T has been upping its stake on the country’s defence market after the government announced plans to cut down dependence on foreign military arms that has made India the world’s top importer in the sector. Currently, defence accounts for nearly 4% of L&T’s revenues. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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