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L&T, BrahMos unveil naval launcher
Posted on 9th May 2018
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.

Related Companies: Larsen & Toubro Limited   

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Posted on 14th August 2018
As many as 1,677 entities, including individuals, failed to pay penalties imposed by Sebi till the end of May, according to the regulator.

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SBI shares continue to fall; down over 3 per cent
Posted on 14th August 2018
New Delhi: Shares of State Bank of India continued to fall for the second straight session on Monday, dropping over 3 per cent after the lender reported a hefty loss of Rs 4,876 crore for the June quarter.

The stock went down 3.17 per cent to end at Rs 294.80 on BSE. Intra-day, it slumped 4.15 per cent to Rs 291.80. At NSE, shares of the company fell 2.54 per cent to close at Rs 296.70.


Bitcoin slips below $6,000 to lowest since June as almost every other crypto nosedives
Posted on 14th August 2018
Bitcoin dropped below $6,000 and dozens of smaller digital tokens tumbled as this month’s selloff in cryptocurrencies showed few signs of letting up. The largest digital currency fell as much as 6.2 percent to $5,887 as of 10:44 a.m. in Hong Kong, the lowest level since June, according to Bloomberg composite pricing. Ether sank 12 percent, while all but one of the 100 biggest cryptocurrencies tracked by Coinmarketcap.com recorded declines over the past 24 hours.

Debit cards: Paytm rules the roost in the virtual world but lags in real life
Posted on 14th August 2018
Given how every depositor gets a digital debit card, Paytm Payments Bank has in less than a year of its launch notched up a large outstanding debit card user base.

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Air India says yet to receive equity infusion from government
Posted on 14th August 2018
National carrier Air India on Monday said it is yet to receive the equity infusion from the government to meet its working capital requirements after an airline’s pilots’ body claimed grounding of several aircraft due to lack of funds.

“There is no money for spares and maintenance of these aircraft. Some of them have been grounded for the last three months.


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