Shares of Larsen & Toubro (L&T) gained over 1% in afternoon trade on Thursday, May 14, after the leading engineering and manufacturing major announced a strategic collaboration with France-based Exail to deliver an advanced unmanned mine counter-measure (MCM) suite for the Indian Navy's mine counter measure vessels (MCMVs) programme. Exail is a leading high-tech industrial company specialising in cutting-edge robotics, maritime, navigation, aerospace and photonics technologies.
The collaboration aims to equip the Navy's upcoming fleet of 12 mine counter measure vessels (MCMVs) with autonomous systems capable of detecting and neutralizing underwater mines from a safe distance. On Thursday, shares of L&T opened at Rs 3,942 against a previous close of Rs 3,915.80 and hit an intrday high of Rs 3,988 apiece on the NSE. The largecap stock has gained 10% in thr last one year. However, on a year-to-date basis, it has declined 4.7% and 25 in the last one week.
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L&T-Exail Deal: Key Highlights of Partnership
Strategic Roles: L&T will act as the prime contractor, offering the suite to all shipyards involved in the Indian Navy's MCMV program. Exail will serve as the technology partner, providing globally proven unmanned maritime systems.
Technological Edge: The suite features autonomous and remotely operated systems designed to detect, classify, and neutralize naval mines, ensuring "stand-off" safety for human crews.
Sovereign Manufacturing: In line with Aatmanirbhar Bharat and Make in India initiatives, the program focuses on local industrial collaboration, indigenous manufacturing, and long-term lifecycle support.
Geopolitical Impact: Beyond hardware, the deal strengthens Indo-French defense ties and aims to build a self-reliant ecosystem for next-generation naval drones and autonomous systems in India.
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"This partnership brings together L&T's defense engineering and indigenous manufacturing with Exail's decades of proven operational expertise in mine warfare technologies,'' said Arun Ramchandani, Senior VP and Head - Precision Engineering & Systems, L&T. According to the infrastructure company, the collaboration with Exail represents a major step towards strengthening India's mine countermeasure capabilities, enhancing maritime security and reinforcing Indo-French defence cooperation, while building a robust and self-reliant naval defence manufacturing ecosystem in India.
L&T Share Price Intraday
"Beyond delivering a proven capability, this collaboration reflects a shared ambition to support the long-term development of sovereign unmanned maritime systems in India,'' said Jerome Bendell, CEO - Maritime Systems Business Line, Exail. By leveraging local industrial collaboration, the programme supports the long-term production of next-generation naval drones and autonomous mission systems within India, effectively strengthening the nation's naval defence infrastructure. Shares of L&T last traded 1% higher at Rs 3,946 apiece on the NSE against a rise of 1.29% in the Nifty 50 benchmark.
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