SC Bhargava, senior VP & head, L&T Electrical and Automation, said, “We are approved as an IPMS and IBS supplier for the Indian Navy together with Servowatch”
The Electrical and Automation Business of Larsen & Toubro completed the share sale agreement formalities for the acquisition of Thalest, the UK-based holding company of Servowatch Systems, Bond Instrumentation and Process Control and Servowatch Inc, (USA).
Thalest is engaged in offering integrated platform management system (IPMS) and integrated bridge system (IBS) solutions for naval warships and mercantile marine ships, vessels and floating systems. L&T’s Electrical and Automation business has been present in this space with marine electrical and automation solutions.
SC Bhargava, senior vice president & head, L&T Electrical and Automation, said, “We are approved as an IPMS and IBS supplier for the Indian Navy together with Servowatch.Thalest/Servowatch joining the L&T family will help offer cutting edge technology in control and automation space not only for marine application but also for other emerging segments. Thalest/Servowatch’s deep understanding of the control and automation space will open new vistas in other markets and segments.”
Servowatch has an extensive experience in dealing with the navies of the US, UK, India, Australia and Thailand. The company also has wide experience in offering control systems for commercial ships, special purpose craft and land / marine asset management.
In the late afternoon, L & T was trading at around Rs1,343 per share on the Bombay Stock Exchange, 1.11% down from the previous close.
Suzlon Group announced the sale of a block of wind assets for Rs200 crore
Wind turbine maker Suzlon Energy said it would sell a block of its windfarm assets for $40 million (Rs200 crore).
“Suzlon Group announced the sale of a block of wind assets for approximately $40 million,” the company said in a statement to the BSE. The windfarms are located across India, with a majority of the assets in Tamil Nadu, Suzlon said.
The transaction is scheduled to conclude next month after completion of due diligence and requisite approvals, it added. “We are divesting in certain non-core assets and are set to raise approximately $40 million as per our plan outlined in February this year,” Kirti Vagadia, chief financial officer Suzlon Group said.
In the late afternoon, Suzlon Energy was trading at around Rs25.10 per share on the Bombay Stock Exchange, 2.14% down from the previous close.
While the prime minster said such reports “should not be taken at face value”, defence minister said the armed forces personnel were “true patriots”
Visakhapatnam: Defence minister AK Antony today termed as “absolutely baseless” fears of any coup attempt by the armed forces and expressed confidence that they will not do anything to undermine democracy, reports PTI.
“Absolutely baseless. Army has already explained this. It is usual, natural activities. Nothing unusual. We are absolutely confident of the patriotism of the armed forces.
Don't question their patriotism. They will not do anything to undermine Indian democracy,” he told a press conference here.
Meanwhile, Prime Minister Manmohan Singh said such reports “should not be taken at face value”.
“These are alarmist reports. They should not be taken at face value,” Mr Singh told reporters on the sidelines of a function to give away the Padma awards at the Rashtrapati Bhawan here.
Mr Singh was asked to comment on a media report that the central intelligence agencies reported that on the night of 16th January, an unexpected and non-notified movement by a key military unit from the mechanised infantry based in Hisar in the direction of the capital.
The prime minister said that the ministry of defence had already issued a clarification in this regard.
The reports said that another unit—identified as a large element of the 50th Para Brigade based at Agra—was also moving towards Delhi.
According to the report, the army had said that the exercise was to check effectiveness in fog.
However, Mr Antony said the armed forces personnel were “true patriots” and “don’t question the patriotism of the soldiers who are dying in the frontiers of the country.”
“I am proud of the Indian Army, Navy, Air Force and the Coast Guard,” he said.
He also urged the media not to lower the dignity of the armed forces on issues of national security.