Engineering and construction major Larsen & Toubro (L&T) on Friday said its defence arm has received orders for the Indian Ministry of Defence (MoD) for the supply of four regiments of Pinaka Weapon Systems. "The contract involves supply of Pinaka launchers, battery command posts and associated engineering support package (ESP) for four regiments," L&T said in a regulatory filing. The company did not provide the value of the contracts, but said the orders fall under the significant category, which ranges between Rs 1,000 crore and Rs 2,500 crore according to the classification of contracts. L&T said the Pinaka launch system has been indigenously developed by the company as part of Pinaka development program of Defence Research and Development Organization and functions as a high tech, all weather, long range, area fire artillery weapon system. L&T said it has already executed similar orders from the Ministry of Defence and supplied two regiments of Pinaka systems earlier. Shares of L&T were trading 0.97 per cent lower at Rs 951.70 apiece on BSE. .

Consequently, for 2020, average increment at 3.6 percent is less than half the increment of 8.6 percent that employees received in 2019. This number is among the lowest in decades," the survey said.

We bring to you a special conversation with business leaders of India Inc. on how their brands have built endurance through the years and have continued to stay resilient through the pandemic.

JK Paper Vice-Chairman and Managing Director Harsh Pati Singhania said despite the setback from the COVID-19 triggered lockdown, the company's planned capacity expansions are progressing as per schedule, "although support from banks and financial institutions would be critical for us to adhere to timelines".