MV Kotwal, Whole-time Director & President (Heavy Eng), L&T said that the involvement of private sector in defence sector has been very slow until now.
The Department of Industrial Policy & Promotion (DIPP) has granted industrial licences to several defence companies. In tune with the Modi government's 'Make in India' push, the DIPP has cleared most of the 34 industrial licence proposals stuck since 2012.
Speaking to CNBC-TV18 about the same, MV Kotwal, Whole-time Director & President (Heavy Engineering), L&T said that the company sees strong orders coming from defence sector.
He added that the company has been present in this sector for almost 25 years and has expertise in building key warships and submarines.
Kotwal sees award opportunity of USD 18-20 billion in army and navy each.
Also Read: Govt must mull over 74% FDI in defence, says KPMG
Transcript to follow shortly
Larsen stock price
On December 05, 2014, at 12:31 hrs Larsen and Toubro was quoting at Rs 1649.00, up Rs 19.60, or 1.20 percent. The 52-week high of the share was Rs 1774.70 and the 52-week low was Rs 951.60.
The company's trailing 12-month (TTM) EPS was at Rs 63.52 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 25.96. The latest book value of the company is Rs 362.41 per share. At current value, the price-to-book value of the company is 4.55.
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