Shares of Larsen & Toubro Ltd (L&T) are trading flat on 24th September, after hitting a day’s high of Rs 3,688.20, despite the company announcing a strategic partnership with Bharat Electronics Ltd (BEL) to support the Indian Air Force’s Advanced Medium Combat Aircraft (AMCA) programme.

L&T said the consortium with BEL will respond to the expression of interest issued by the Centre’s Aeronautical Development Authority in the coming weeks.

The partnership will combine L&T’s expertise in defence and aerospace platforms with BEL’s experience in defence electronics to contribute to India’s development of its fifth-generation fighter aircraft.

Previously, L&T and BEL have supplied key aero-structure modules and developed mission-critical avionics and electronic systems for India’s indigenous Light Combat Aircraft programme.

“Both organisations are leaders in our domains, and our combined efforts will strengthen national security and boost self-reliance in defence technologies,” said S N Subrahmanyan, Chairman & MD of L&T.

Separately, L&T signed an MoU with ACWA Power for the renewables and grid work of the Yanbu Green Ammonia Project in Saudi Arabia. Last week, the company also won orders worth up to Rs 15,000 crore, including two large and two significant contracts.

At 11:51 AM, the shares of L&T were trading 0.61% higher at Rs 3,679.90 on NSE.

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