L&T, Rolta Gain on Hopes of Bagging Defence Orders

Shares of Rolta and Larsen & Toubro jumped as much as 2.6 and 9 per cent each respectively after a financial daily reported that two consortia one led by Larsen & Toubro and other by Bharat Electronics-Rolta have been shortlisted by the Defence Ministry for Rs 40,000 crore projects.

 

The report said that Ministry of Defence (MoD) will fund two Indian consortia in developing a Rs 40,000 crore 'battlefield management system' which will interlink soldiers and battlefield sensors through voice and data channels, providing a common battle picture to each jawan.

 

Bids for this contracts were invited during the UPA regime.

 

Reacting to the news, shares of Rolta India ended higher by 6.4 per cent at Rs 118.10 and Larsen & Toubro jumped 2.3 per cent to close at Rs 1,609.