Ayush Kumar Jaiswal
The Defense Ministry has turned down Larsen & Toubro (L&T)’s proposal to procure six advanced submarines worth ₹70,000 crore under the Indian Navy’s Project 75 India. This ambitious project aims to acquire submarines capable of remaining underwater for up to three weeks.
According to sources cited by ANI, L&T, in collaboration with Spanish firm Navantia, failed to meet the Indian Navy’s specific requirements. Although L&T and its partner demonstrated their Air Independent Propulsion System on-shore to the Indian Naval team in Spain, the tender document explicitly called for a sea-proven solution, leading to the rejection of their bid.
Following the news, L&T’s stock dipped by 1.24% on Friday, closing at ₹3,459.80 per share. The stock had opened at ₹3,503.25, marking a slight decline from its previous close.
L&T’s Q3 FY2024-25 Results Announcement Scheduled
L&T has announced that its Board of Directors will meet on Thursday, January 30, 2025, to review and approve the company’s consolidated and standalone financial results for the quarter and nine months ending December 31, 2024. The financial performance of the company during this period will be a key focus for investors.
L&T Chairman Sparks Work-Life Balance Debate with 90-Hour Workweek Comments
L&T Chairman and MD, S. N. Subrahmanyan, recently ignited a heated debate on work-life balance with his remarks advocating a 90-hour workweek, including Sundays, to boost global competitiveness.
Subrahmanyan lamented that he could not implement Sunday work policies at L&T, despite personally adhering to such a schedule. His comments come on the heels of Infosys founder Narayana Murthy’s similar suggestion, advocating a 70-hour workweek. Both statements have sparked discussions around work culture and the importance of balancing professional and personal life.
Stay tuned for updates on these developments and more on our platform.
