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. .

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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.

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