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<ul><li><keyword id="6354919" type="General" weightage="20" keywordseo="lt" source="Orion">L&amp;T</keyword> is amongst the largest infrastructure companies in India, with its business spread across engineering, construction, manufacturing among others. </li><li>In its annual report, the infra giant revealed large pay hikes to its top management, including CEO and MD <keyword id="887018" type="General" weightage="20" keywordseo="sn-subrahmanyan" source="Orion">SN Subrahmanyan</keyword>. </li><li>Here’s how much L&amp;T’s top management took home last year. </li></ul>Infrastructure major L&amp;T’s CMD SN <keyword id="3476596" type="General" weightage="100" keywordseo="subrahmanyan" source="Orion">Subrahmanyan</keyword> received a bumper payout in 2021-22 as his salary benefits doubled to ₹24 crore, without including post-employment benefits as listed in the company’s annual reports. However, Subrahmanyan was one of top executives of the company who took a voluntary pay cut during the pandemic year. His <a href="https://www.thehindubusinessline.com/money-and-banking/covid-19-lt-group-chairman-directors-take-voluntary-salary-cut-of-up-to-53/article32150260.ece">salary had then gone down b</a>y almost 44%. In real terms, currently his salary is much higher than it was before the pandemic. The company which has also been fighting off pandemic blues has booked orders to the tune of ₹1.9 lakh crore in the last financial year – which grew at 10%. The company’s CFO Shankar Raman’s salary too almost doubled to ₹16 crore. The biggest jump in salary however was reserved for SV Desai, the senior VP of construction – whose salary went up almost three times. It is to be noted however that their former CMD and the current group chairman AM <keyword id="50744" type="General" weightage="20" keywordseo="naik" source="Orion">Naik</keyword>’s salary barely changed during the year. This is in spite of the fact that he took a 24% salary cut during the pandemic. <div type="image" title="L&amp;amp;T remuneration hike 2021-22." msid="92877137" hostid="261" sizebytes="20180" caption="&amp;lt;p&amp;gt;Remuneration of L&amp;amp;amp;T&amp;#39;s key managerial personnel in FY22&amp;lt;/p&amp;gt;"></div> It’s not just the top executives who have received hikes. L&amp;T’s overall staffing costs too went up by 20% during the year. “As a percentage to revenue, it increased by 80 basis points, reflecting manpower ramp-up in the IT &amp; TS segment and salary revision,” the company said. The company also turned <a href="https://www.businessinsider.in/business/corporates/news/all-decks-cleared-for-lts-share-buyback-as-co-turns-debt-free/articleshow/92866225.cms">debt free</a> during the year and even before that its interest costs have gone down for the year. Earlier, a Motilal Oswal <a href="https://www.businessinsider.in/business/corporates/news/indias-biggest-companies-spend-nearly-11-lakh-crore-on-employee-expense-last-year/articleshow/92690317.cms">report</a> showed that the employee benefit expenses of Nifty 500 companies surged by ₹1.2 lakh crore in 2021-22 – from ₹9.6 lakh crore in the year before. This is an average increase of 12.5%. <div type="image" title="Nifty 500 emp benefit exp" msid="92877150" hostid="261" sizebytes="38268" caption="&amp;lt;p&amp;gt;Employee benefit expenses of Nifty 500 companies&amp;lt;/p&amp;gt;"></div> The NBFC sector offered the biggest salary hikes – at an average of 23%, while tech was a little behind at 19%. India’s four largest banks – SBI, ICICI Bank, HDFC Bank and Axis Bank, apart from HDFC – also figured in Forbes’ list of top performing companies last year. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/all-decks-cleared-for-lts-share-buyback-as-co-turns-debt-free/articleshow/92866225.cms">All decks cleared for L&amp;T’s share buyback as co turns debt free</a> <a href="https://www.businessinsider.in/finance/news/why-rbi-wants-international-trade-settlement-in-rupees/articleshow/92850515.cms">Explained: International trade settlement in Rupees and why RBI is doing it</a> <a href="https://www.businessinsider.in/retail/news/dmart-gets-it-mojo-back-from-monsoons-and-school-going-children/articleshow/92796927.cms">Unlockdowned - DMart gets it mojo back from monsoons and school-going children</a>

L&T CMD SN Subrahmanyan’s salary doubles after a pandemic cut but Naik’s pay remains the same

<ul><li><keyword id="6354919" type="General" weightage="20" keywordseo="LT" source="Orion">L&amp;T</keyword>’s board approved a buyback at a maximum price of ₹3,000 per share for an aggregate consideration of up to ₹10,000 crore.</li><li>Special dividend was announced to mark the end of A M Naik’s tenure with the company. </li><li>Stress in core segment margins will continue for next two quarters as it carries post-Covid, post-war overhang. </li><li></li></ul>Infrastructure major <keyword id="45475" type="General" weightage="20" keywordseo="Larsen-Toubro" source="Orion">Larsen &amp; Toubro</keyword>’s (L&amp;T) Q1 consolidated net profit went up by 46% to ₹2,493 crore, from ₹1,702 crore in the same quarter last year. It also said the board of directors approved a share buyback at the maximum price of ₹3,000 each for an aggregate consideration of up to ₹10,000 crore. The proposal is subject to the approval of shareholders. The board also approved a special dividend of ₹6 per equity share to mark the end of chairman A M Naik’s extraordinary tenure with the company, said R Shankar Raman, L&amp;T's CFO said in an earnings conference call. Naik will retire as the non-executive chairman of the company in September this year, after which the current CEO &amp; MD S N Subrahmanyan will take over as its executive chairman and MD. Revenue guidance unchanged L&amp;T’s consolidated revenues went up 34% to ₹47,882 crore for the quarter, from 35,853 crore in Q1 of FY23. The company said that it was primarily aided by the execution of a healthy order book in its projects and manufacturing portfolio. However, Raman refused to change the goalpost of the revenue guidance of 12-15% given for FY24. “If all goes well, we will be at the upper end of the guidance,” he said. The company received orders worth ₹65,520 crore at the group level during the quarter, registering a y-o-y growth of 57%. International orders at ₹27,646 crore during the quarter comprised 42% of the total order inflow. The company said that orders were received across diverse segments like rail, renewables, rural water supply, transmission &amp; distribution, IT &amp; office space and onshore and offshore verticals of the hydrocarbon business, during the quarter. The consolidated order book of the group is at ₹4,12,648 crore as on June 30, 2023, with international orders having a share of 29%. “Capex buoyancy in India Gulf Cooperation Council is providing the much-needed tailwinds for growing our projects &amp; manufacturing portfolio, ably supported by the resilient performance of the services businesses,” said S N Subrahmanyan, CEO &amp; MD, Larsen &amp; Toubro. Core segment margins to remain stressed in near term Its infrastructure segment saw order inflows of ₹40,051 crore, double what was recorded in the same quarter last year. The EBITDA margin of the segment during the quarter, however, reduced to 5.1% vis-à-vis 6.5% recorded in the corresponding quarter. The infrastructure business orders that were executed during the quarter were won in the second half of FY22 and FY23. The pricing of these orders factors in inflationary trends seen in the post-Covid, post-War period, Raman said explaining the margin squeeze seen in the segment during the quarter. He added that this segment’s margins will continue to be subdued for the next quarter or two. “Improvement in margin trajectory will be seen only in Q4. In fact 2024-25 will be a far healthier period,” Raman said. In its outlook, the company said that major economies are turning around the corner. Major oil producing nations continue to invest in oil &amp; gas, industrialisation and energy transition initiatives, which will augur well for the company’s projects business. L&amp;T said that in the backdrop of this mixed sentiment, its focus will remain on cash generation and judicious capital allocation. “The company has a robust order prospects pipeline in the medium term and is confident of sustaining its growth momentum by utilising the emerging opportunities, with an overarching aim of improving shareholder value on a sustainable basis,” it said in a press release.

L&T’s Q1 net profit jumps 46%; board approves ₹10,000 crore share buyback

<ul><li>For the quarter ending June, L&amp;T’s infrastructure orders went down by 10%. </li><li>The new orders won during the quarter too were from Saudi Arabia and Sri Lanka. </li><li>“We will be lucky if we can maintain 6.5% growth,” A M<a href="https://www.news18.com/news/business/l-says-a-6-5-growth-will-be-lucky-2254855.html"> Naik, L&amp;T’s former chairman said</a>. </li></ul> Indian biggest infrastructure company Larsen &amp; Toubro is heading to greener pastures abroad as the home turf is getting tougher, and the local economy slower. The impact of the economic downturn hurting the company is visible in L&amp;T’s share price which is down over 11% in the last one month. For the quarter ending June, its infrastructure or construction orders went down by 10%. And, even among those that they won were overseas orders. “Order wins were mainly from the airport sector, gold beneficiation award in Saudi, water supply and distribution order in Sri Lanka, a notable desalination plant order in Gujarat and an order for a defence telecom network,” L&amp;T said in its earnings press release. As of now, international orders contributed to 23% of its total inflow for the quarter. This may only increase going forward. “Company will focus more on the international market to offset the muted demand from the domestic private sector investment,” ICICI Securities said. Yet, this a near-term strategy only. In the long-run, the company which has manufacturing facilities, construction capabilities and equipment all in place will have to bank on India growth story. Where is the growth? A M Naik, the former chairman of the company valued at ₹1.94 lakh crore; and an industry doyen broke his silence to criticise the government. Not only did he reject government’s claims that the country will grow at 7%, he also punched holes in the credibility of the numbers. “We will be lucky if we can maintain 6.5%,”<a href="https://www.news18.com/news/business/l-says-a-6-5-growth-will-be-lucky-2254855.html"> Naik said</a>. While he wasn’t talking specifically of L&amp;T, it is true that the 81-year-old company’s fate is largely linked to that of government. L&amp;T has been a part of every large infrastructure project in India right from the recent moon mission Chandrayaan-2 to large defence projects to nuclear power plants in addition to highways and others. However, the slowdown is too severe and it is taking a toll on the company’s prospects. “Domestic private sector demand is under stress and the overall environment is challenging. Management believes the government will face several challenges to keep up the pace of infrastructure development in the current environment,” said an analyst report by ICICI Securities, after the company’s annual general meeting. Lost opportunities Naik had hoped that India could gain from the trade war between US and China, but those manufacturing opportunities have been lost to Vietnam and Thailand, while L&amp;T itself lost the opportunity to gain from possible trade expansion. “We were too busy with elections,” Naik lamented. And, it is not like India has no infrastructure to build. It is still in want of good roads, airports, railway stations and much more. The country which is facing heavy water crisis in cities like Chennai, and subsequent threats in Hyderabad and others might boost this infrastructure, and that too an urgent basis. “Government’s renewed focus on clean drinking water to act as a catalyst for growth in the water and effluent treatment business and ‘Make in India’ programme in defence would augur well for large players like L&amp;T. Larsen has vast experience in execution and sail through any tough macro environment,” said a report by JM Financial. L&amp;T indeed could sail the rough weather, but it sure intends to make pit stops in other countries, picking up the business it lost due to the slowdown at home.

India’s biggest infrastructure company is looking overseas for orders because there are few at home

<ul class="summary-list"><li>Ukrainian soldiers have reached the end of their planned training on American M1 Abrams tanks in Germany.</li><li>But Kyiv requested that its troops stay there to continue the program until the tanks are ready for delivery.</li></ul>Ukrainian soldiers training on American M1 Abrams tanks in Germany have reached the end of their planned training program, but Kyiv wants them to stay there until the heavy armor is ready for delivery, a US Army official told Insider on Friday.Around 200 Ukrainians "just completed one of the last phases of their 12-week training program, a combined arms, battalion force-on-force exercise at Hohenfels Training Area," said Col. Martin O'Donnell, a spokesperson for US Army Europe and Africa, in a statement. The soldiers will now head back to the Grafenwoehr Training Area, where they trained previously"There, at the request of Ukraine, the soldiers will maintain their operator and maintenance proficiency until the 31 tanks the US has committed to refurbish and to deliver to Ukraine by the fall are ready," O'Donnell added. The training is expected to last for weeks and stretch into fall.Facing international pressure to outfit Ukraine with heavy armor, the Biden administration said earlier this year that it would procure new M1A2 Abrams tanks for Kyiv's military to complement pledges from other NATO allies like Germany and the UK that offered their own main battle tanks. The US later announced that it would <a href="https://www.businessinsider.com/ukraine-older-us-abrams-tanks-history-defeating-russia-soviet-armor-2023-3" rel="">send older, refurbished M1A1</a> variants to Ukraine instead, as these tanks were already in Pentagon stocks and could be delivered sooner. <div type="image" title="US M1A1 Abrams tanks needed for training the Armed Forces of Ukraine arrive by rail at Grafenwoehr, Germany, May 14, 2023." height="3648" width="5472" msid="102841329" hostid="261"></div>Training the Ukrainians to operate and maintain the tanks — initially a three-month-long effort led by the US military — represents "just one piece" of a global effort to help Ukraine defend against Russia, O'Donnell said, adding that Washington and its partners have trained over 70,000 Ukrainian soldiers since the full-scale war began in February 2022. Stars and Stripes first <a href="https://www.stripes.com/branches/army/2023-08-17/ukrainian-troops-additional-abrams-training-11075594.html?utm_source=sailthru&amp;utm_medium=email&amp;utm_campaign=mil-ebb&amp;SToverlay=342f5a58-c37b-4142-b049-1f737335b507" target="_blank" rel="noopener">reported</a> Ukraine's request to keep its soldiers in Germany for further training.While US officials have routinely asserted that the Abrams tanks would make their way to the battlefield this fall, an exact timeline remains unclear. "We're confident that we can provide those tanks when we said we would, which would be before the end of this year. And by all accounts, the training has gone well for those tank crews, but certainly at the appropriate time, we'll provide updates, in terms of delivery," Pentagon Press Secretary Brig. Gen. Pat Ryder told reporters this week. He declined to provide additional details, citing operational security concerns. The planned delivery of Abrams tanks could come at a crucial time for Ukraine, which is currently entangled in counteroffensive operations along several directions in the eastern and southern parts of the country and may still be attempting offensive operations come fall. Formidable Russian defensive lines — consisting of minefields, trenches, razor wire, and anti-armor obstacles — have slowed Ukrainian advances.<div type="image" title="A US M1 Abrams tank" height="1333" width="2000" msid="102841331" hostid="261"></div>Abrams tanks will complement Ukraine's expanding inventory of armored vehicles that it has accumulated from the US and its NATO partners over the last few months. American officials, meanwhile, have suggested that the Abrams tanks are expected to give Kyiv a significant firepower boost on the battlefield. "The Abrams will certainly make a difference on the battlefield. I mean, we know it's an extraordinary tank," Lt. Gen. Douglas Sims II, director of operations for the US military's Joint Staff, told reporters at a briefing last month adding that the training will make the Ukrainians "extraordinarily good" at using the tanks."I can't tell you whether the offensive would still be going on by then or not, I just know that when the Abrams arrive, they'll be able to make a difference with Ukrainians," Sims said. The Abrams tanks the US plans to deliver to Ukraine are part of more than $43 billion in security assistance that the US has committed to Ukraine since Russia invaded last year. But as the war nears the 18-month mark, Kyiv continues to pressure its Western military partners to send additional weapon systems like fighter aircraft and long-range missiles.

Ukrainian soldiers knocked out a crash course on the M1 Abrams tank, but Kyiv doesn't want to stop there

<ul class="summary-list"><li>Russia filmed its troops firing a D-74, an artillery gun developed in the 1940s that the Soviets exported to their allies.</li><li>Its appearance is giving rise to suspicions it was brought back in from countries like North Korea.</li></ul>Last week, a promotional video from the Kremlin caught the attention of Ukrainian media covering the war.The clip showed an entrenched Russian crew <a target="_blank" class="" href="https://t.me/mod_russia/44271">firing an old, towed artillery system</a> against Ukrainian positions in Donetsk.The field gun featured: a D-74 122mm howitzer, which the Soviet Union developed in the late 1940s.Yet its age wasn't the main attraction. Russia has, after all, been <a target="_blank" class="" href="https://www.businessinsider.com/russia-increasingly-relying-cold-war-era-weapons-western-officials-2023-4">regularly deploying Cold War-era weaponry</a> from its old stocks.What's surprising about the D-74 in Ukraine is that it's not supposed to be in Russian inventory. The Soviet Union started producing them in 1955, but they were quickly superseded by another gun, the M-46, which fired 130mm rounds at a longer range.As the D-74 fell out of vogue, Moscow began exporting the guns to Soviet-friendly countries like Vietnam and China and is thought to have distributed away its entire arsenal.Yet the gun has reappeared in Russian hands in Donetsk, leading Ukrainian media to discuss the possibility that it was imported from a country such as <a target="_blank" class="" href="https://www.businessinsider.com/ukraine-hit-russian-arsenal-storing-north-korean-weapons-glide-bombs-2024-10">North Korea</a>, which is also known to stockpile the D-74."It is no secret that Russia has significant struggles with both material and manpower," US Marine Corps Ret. Lt. Col. Michael Purcell, who teaches classes on Russia and International Security at George Washington University, told Business Insider. "And it is safe to assume that these systems, or at least the ammunition, are coming from the DPRK."Russia publicizing to the world that it's importing and using the D-74 would also fit with its war strategy, he added."Russia has not been shy about strengthening and promoting its defense ties with the DPRK," Purcell said. "In the same way that the Putin regime has always sought support and approval from marginalized states regardless of the legitimacy of the government."<div type="image" title="A D-74 fires its ammunition from an entrenched position." height="1440" width="2560" msid="114207781" hostid="261" sizebytes="67314"></div>Jennifer Kavanagh, senior fellow and director of Military Analysis at Washington-based think tank Defense Priorities, told BI that Russia could be trying to demonstrate that it can muster vast resources amid Western sanctions."Given attention to Russian losses over the past 6 weeks, publicizing the D-74's use could be Russia's way of signaling its staying power and ability to keep fighting for some time still," she said.Pyongyang's role in the war has especially been in the spotlight as it strengthens ties with Russia and is said to be supplying the Kremlin <a target="_blank" class="" href="https://www.businessinsider.com/north-korea-shells-used-by-russia-from-1970s-report-2024-5">with a steady flow of arms</a>. Ukrainian President Volodymyr Zelenskyy estimated in February that Russia was receiving at least <a target="_blank" class="" href="https://www.businessinsider.com/russia-getting-one-million-artillery-shells-from-north-korea-ukraine-2024-2">1 million</a> artillery shells from North Korea.Then on Sunday, he said the latter was <a target="_blank" class="" href="https://www.france24.com/en/europe/20241013-zelensky-says-north-korea-has-sent-troops-to-support-russian-military">establishing a troop presence in Ukraine.</a> Authorities in Seoul also said last week it was <a target="_blank" class="" href="https://en.yna.co.kr/view/AEN20241008004351315">"highly likely"</a> that North Korean soldiers were deployed in Ukraine and that reports of six of them being killed on the battlefield were likely true.Russian presidential spokesperson Dmitry Peskov told state media those reports were false. "It looks like another piece of fake news," he said, <a target="_blank" class="" href="https://tass.com/politics/1854537">per TASS.</a>China also maintains an arsenal of D-74s, which it calls the Type 60 towed gun, per the International Institute for Strategic Studies' <a target="_blank" class="" href="https://www.iiss.org/publications/the-military-balance/">Military Balance 2024 report.</a>The Russian defense ministry and the Chinese foreign affairs ministry did not respond to requests for comment sent by Business Insider.<h2 id="8649a64c-dd36-422a-bc1c-073e849f548e">The D-74's age shows strain in Russia</h2>Kavanagh said it's possible Russia still has a handful of D-74s left over in its own stockpile.Even if the D-74 didn't come from North Korea, Russia's use of such an aged system — like the <a target="_blank" class="" href="https://www.businessinsider.com/video-shows-russia-tank-topped-with-ridiculously-tall-cage-2023-10">T-55 tanks</a> seen in Ukraine — indicates that it's had to dig deep into its reserves."Either way, that they are being forced to use Soviet-era technology suggests that despite their faster-than-expected military rebuilding, new production is still not keeping up with battlefield losses," Kavanagh said.Despite its sheer age, the D-74 still can be useful for Russia in a modern war in Ukraine, Purcell said."These old systems can be effective," he said."An effectively maintained, supplied, and employed D-74 can help plug a hole in Russian requirements for massed artillery fires in the kind of largely static trench warfare in Ukraine," Purcell added.Russia's ability to acquire supplies, weapons, parts — and now, reportedly, troops — from its allies has been a particular pain point for the West, which had hoped its sanctions would squeeze Moscow's ability to fuel its war.But Russian leader Vladimir Putin has since <a target="_blank" class="" href="https://www.businessinsider.com/russia-economy-putin-tolerance-russian-people-war-spending-sanctions-gdp-2024-2">pivoted the country's economy</a> to focus about <a target="_blank" class="" href="https://www.reuters.com/world/europe/putin-approves-big-military-spending-hikes-russias-budget-2023-11-27/">40% of the national budget</a> on defense manufacturing, churning out millions of drones and artillery rounds.Moscow now faces questions of how long the nation can sustain its wartime marathon, a deadline that's become increasingly uncertain now that it's <a target="_blank" class="" href="https://www.businessinsider.com/putin-kim-jong-un-pact-russia-north-korea-authoritarian-world-2024-6">signed a pact with Pyongyang</a> and opened up a critical stream of ready-to-use war supplies.

Russia rolled out a Soviet howitzer from the 1940s that Moscow technically shouldn't have in the first place

<ul class="summary-list"><li>Lt. Cmdr. John Tortorich, 33, is a pilot in the Navy. </li><li>He was deployed in Iraq and Syria in 2016 aboard the USS Dwight D. Eisenhower.</li></ul>This as-told-to essay is based on a conversation with Lt. Cmdr. John Tortorich, a pilot in the US Navy. It has been edited for length and clarity.The Naval Academy wasn't on my radar in high school, but being a successful swimmer got me noticed by their college recruiters.My grandfather and uncle were also Navy reservists in the 1950s. The application process was pretty arduous: There's a fitness test and medical screening, and, generally, military academies have pretty low acceptance rates. I also had to get nominated by a member of Congress from Louisiana — my home state — to even be considered.I was a strong swimmer, so naturally I thought I'd become a Navy SEAL. During the first two years in college, that was my goal.<div type="image" title="A naval pilot photographed next to an F/A-18C in the Mediterranean Sea." height="2448" width="3264" msid="103755014" hostid="261" sizebytes="294776"></div>It all changed the first time I flew in a T-34 aircraft. It was 2010, the summer between my sophomore and junior years.We had to do a monthlong program where you're introduced for one week to each of the Navy's four "communities": Marine Corps, surface warfare, submarines, and aviation.At the time, I was nervous about flying and told the pilot as much when I got into the single-engine propeller plane. He was supportive, and by the time we'd landed I was set on becoming an aviator.<h2>It was a turning point for my career in the Navy</h2>During senior year, I put "Navy Pilot" as my first preference for a postgraduation assignment, and, thankfully, I got it. It wasn't a problem that I hadn't flown before, because the Navy is geared towards people who haven't.<div type="image" title="An F/A-18E executes a high-speed fly-by." height="1638" width="2912" msid="103755017" hostid="261" sizebytes="129510"></div>I went to flight school near Pensacola, Florida, then on to Mississippi, and finally settled in Virginia Beach, Virginia, where I've been since 2015.Initially, you do all kinds of different trainings that we call "workups." Some are just the aviators, and other, larger sessions will bring the whole force together: aircraft carriers, cruisers, destroyers, and submarines.This phase adds up to about a year of training in different places — from Key West to Nevada to somewhere off the east coast in the Atlantic Ocean. We had to travel often and stay in each place for three to six weeks.<h2>The day-to-day of a Navy pilot</h2>Our schedule varies a lot depending on the type of aircraft you fly and the squadron you're in.In general, your day is determined by the daily flight schedule — which isn't written until the previous afternoon — so your entire life has to be flexible. It's frustrating at first, but I adapted pretty quickly.My wife also used to be in the Navy. We used to plan our lives around both of our schedules.Pilots are constantly training. Every flight we do has a purpose. Luckily we end our days in the same airport unless there's an emergency.<h2>I've flown 20 combat flights on deployment in Iraq and Syria</h2>Deployments usually last six months but can get extended to 10 months. My wife and I didn't see each other from June 2016 until August 2017 because we had back-to-back deployments.You can't choose your deployment, but you're usually told well in advance of where and when you're going to deploy. I've deployed once, in 2016, aboard the USS Dwight D. Eisenhower in support of Operation Inherent Resolve.<div type="image" title="A combat-loaded F/A-18C taxis to the catapult aboard the USS Dwight D. Eisenhower." height="4666" width="7148" msid="103755019" hostid="261" sizebytes="483244"></div>We executed combat missions in the skies over Iraq and Syria supporting the ground troops there. During those six months, I went on 20 combat flights.On the morning of a flight, they brief us on what kind of developments have taken since our last time out. As a professional fighter pilot, you should keep up with what's going on every day, even when you're not flying.<h2>Combat flights are draining, but they're also my most memorable moments</h2>You usually don't know your target before you get into the cockpit, and a lot can change during the 7 ½ hours you're in the air. Being in the plane alone can be draining, but you're also in constant communication with ground forces.Sometimes they need to know what resistance to expect as they move forward, and other times they'll call for fire or assistance.The first time I went into combat it was nerve-racking. Over time I got more comfortable, but I had to fight off complacency because that also can get you into trouble.Flying all over the different kinds of aircraft and seeing new places — including those combat flights over Iraq and Syria — are my most memorable moments.One time, my squadron played an important role in stopping a group of ISIS fighters on the ground.<h2>Graduating from Topgun flight school was strenuous and a blast</h2><div type="image" title="A combat-loaded F/A-18C launches off the deck of the USS Dwight D. Eisenhower." height="3112" width="4504" msid="103755021" hostid="261" sizebytes="577398"></div>In 2019, I was eventually selected to enter Topgun, which, if you graduate, makes you a Navy Strike Fighter Tactics instructor.It's three months of the most intense tactical flying lectures, simulators, and training. Even if you get in, that doesn't mean that you'll finish. It's strenuous, but I also had an absolute blast.When you graduate, you get to wear a special patch on your right shoulder.After graduation, I started teaching existing fighter pilots all of the latest tactics, techniques, and procedures in aerial combat. I did that for two years.In the Navy, you're usually in a specific job for only two to three years. So if I stayed on as a training officer for more than that, I'd age out of the tactics.More recent Topgun grads would be more up-to-date, so it makes sense that they would replace me after a few years and I'd move on to a higher position.<h2>I'd make more money as an airline pilot, but it wouldn't be as rewarding</h2>These days, I work as a fleet training officer, where I work specifically with the "Gunslingers" of Strike Fighter Squadron 105. I'm in charge of training the entire squadron, and especially the junior officers in it.As an F-18 pilot, I could have been placed in California or Japan — the only other F-18 bases — but luckily I was placed in Virginia Beach.I spend a lot of time at work, and it takes a toll on the family. There's the possibility of leaving the military and becoming a pilot with an airline, which pays much more. But right now, that doesn't interest me as I don't think it'd be nearly as fulfilling as this job.Overall, being a fighter pilot and then a trainer of fighter pilots has been a tough but extremely worthwhile career. It's been an honor to wear the uniform.

I'm a Topgun-trained fighter pilot for the Navy. I'd make more money as an airline pilot, but it wouldn't be as fulfilling. 

<ul><li>Shares of <keyword id="2535680" type="PERSON" weightage="20" keywordseo="LT-Technology">L&amp;T Technology</keyword> Services touched its record high mark of ₹3,447 on July 15.</li><li>The engineering services company delivered 84% year on year growth in net profit to ₹216 crore.</li><li>The company filed 23 patents in the June quarter.</li></ul>Shares of L&amp;T Technology Services, the engineering services arm of India’s largest construction company, surged 18% in a single day as investors celebrated the exemplary performance by the company in June quarter. The company reported 85% year on year growth in its net profit to ₹216 crore and 17% on year growth in revenue to ₹1,518 crore. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Financials </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Apr-Jun 2021 (in rupee crores) </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Jan-Mar 2021 (in rupee crores) </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">1,518 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">1440 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Net income </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">216 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">194 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Gross profit </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">506 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">465 </td></tr></tbody></table> The strong quarter performance was supported by a huge deal win and good growth in digital engineering revenues. The company won 11 large deals across 5 segments -- transportation, industrial products, telecom and hi-tech, plant engineering and medical devices. “Digital transformation deals now account for 54% of our revenue. Our strong growth foundation in the digital transformation domain enables newer opportunities for us. FY22 will be about relooking at our offerings and portfolios to resonate with the needs of the modern world,” the company said on <a href="https://twitter.com/LnTTechservices/status/1415304700652576769">Twitter</a>. <div type="image" title="L&amp;amp;T Tech stock" height="900" width="1200" msid="84437562" hostid="261"></div> Moreover, the company has filed 23 patents in the June quarter. At the end of the first quarter, the patents portfolio of L&amp;T Technology Services stood at 719, out of which 531 are co-authored with its customers and the rest are filed by the company. The engineering services company relies on a combination of patent, copyright and trademark laws, trade secrets, confidentiality procedures and contractual provisions to protect its intellectual property. “We started the new fiscal with a strong performance, despite the pandemic related challenges during the quarter. In Q1, we got our revenue back on the double-digit growth trajectory and marked four consecutive quarters of operating margin improvement. The deal pipeline is healthy across segments, and we expect broad based growth to continue. Our innovation engine is matching the pace of our growth as we filed a record 23 patents in Q1,” said Amit Chadha, chief executive officer and managing director of L&amp;T Technology Services in June quarter release. Further, the company looks to scale its operations in 6 areas -- automated electric vehicles, medical technologies, digital manufacturing, artificial intelligence and machine learning, and sustainability. At the end of June quarter, the company had an employee strength of 16,972. At 2:11 p.m., on July 15, shares of the company were trading 18% higher at ₹3,440. SEE ALSO: <a href="https://www.businessinsider.in/business/news/merus-plea-against-uber-abusing-its-dominant-status-rejected-by-cci/articleshow/84434982.cms">Meru’s plea against Uber abusing its dominant status rejected by CCI </a> <a href="https://www.businessinsider.in/business/corporates/news/just-dial-share-price-surge-as-mukesh-ambani-is-looking-to-buy-just-dial/articleshow/84432450.cms">As Mukesh Ambani reportedly dials in, Just Dial stocks surge 3% </a> <a href="https://www.businessinsider.in/business/startups/news/pubg-developer-krafton-is-going-to-help-indian-storytelling-platform-pratilipi-to-turn-a-few-stories-into-games/articleshow/84430517.cms">PUBG developer Krafton is going to help Indian storytelling platform Pratilipi to turn a few stories into games </a>

L&T Technology Services gains more than 18% in a day on strong financials

<ul><li>At 7:49 am the Sgx Nifty was trading 0.60% higher.</li><li>Here’s a list of stocks to watch for in trade today. </li><li>Check out the latest news and updates on Business Insider. </li></ul>A historic quarterly GDP contraction at 23.9% could weigh on the market sentiment but watch out stock-specific newsflow. The global market has also shown mixed sentiments. At 7:49 am the SGX Nifty was trading 0.60% higher. US indices ended mixed on Monday as Wall Street wrapped up its best August in more than 30 years. The Dow Jones Industrial Average fell 0.78%. However, the Nasdaq Composite Index rose 0.68%. These are the stocks to watch out for during the trading session on September 1: Larsen &amp; Toubro (L&amp;T) Larsen &amp; Toubro (L&amp;T) on Monday announced the closure of the strategic divestment of L&amp;T Electrical and Automation business to Schneider Electric for ₹14,000 crore. The deal was earlier announced in May 2018 and took over 2 years to be completed after receiving the requisite regulatory approvals. The shares of L&amp;T ended 4% lower yesterday. Biocon Kiran Mazumdar-Shaw owned Biocon’s subsidiary along with Mylan NV launched Semglee, an insulin glargine injection in the US market. The company told investors that ‘Semglee’ has received final approval from the US FDA and has an identical amino acid sequence to Sanofi’s Lantus, a drug that is used to control high blood sugar. The shares of Biocon ended 4% lower yesterday. Mahindra and Mahindra Mahindra and Mahindra (M&amp;M) extended the date of sale of its entire stake in Neo Solren to CLP India. The company said that due to COVID-19 the sale of stake is expected to be done by September, earlier August was the deadline set by the company. The shares of M&amp;M ended 4% lower yesterday. Punjab National Bank India’s second-largest lender Punjab National Bank hiked its repo-linked lending rate (RLLR) by 15 basis points (bps) to 6.80 per cent. 100 basis points make 1%. All new retail loans related to housing, education, vehicles and credit to MSMEs are linked to RLLR. The shares of PNB ended 6% lower yesterday. Bharat Earth Movers Ltd and Tata Power The Indian defence ministry sealed a deal with domestic defence majors to procure Pinaka rocket launchers for six Army regiments at the cost of ₹2,580 crore. The deal has been signed with Tata Power Company Ltd (TPCL) and engineering major Larsen &amp; Toubro (L&amp;T) while defence public sector undertaking Bharat Earth Movers Ltd (BEML) will also be part of the project. The shares of BEML ended 8% lower yesterday, and Tata Power was down 4%. SEE ALSO: <a href="https://www.businessinsider.in/india/news/indias-former-president-pranab-mukherjee-passed-away/articleshow/77852656.cms" data-type="tilCustomLink">Apna Time Aayega? Remembering Pranab Mukherjee, a village boy who couldn’t be stopped from being India’s first citizen</a> <a href="https://www.businessinsider.in/policy/economy/news/indian-economy-contracts-23-9-in-the-april-june-quarter/articleshow/77854401.cms" data-type="tilCustomLink">Indian economy contracts 23.9% in the April-June quarter</a>

Top stocks to watch— L&T, Biocon, M&M, PNB, Tata Power, Bharat Earth Movers and others

Equity benchmark <keyword id="6484188" type="PERSON" weightage="20" keywordseo="sensex">Sensex</keyword> surged over 250 points in opening trade on Tuesday, tracking gains in index heavyweights <keyword id="6354512" type="COMPANY" weightage="20" keywordseo="Infosys">Infosys</keyword>, <keyword id="106317" type="COMPANY" weightage="20" keywordseo="Asian-Paints">Asian Paints</keyword> and HDFC amid a positive trend in global markets. The 30-share BSE index was trading 265.07 points or 0.52 per cent higher at 50,916.97, and the broader <keyword id="372424" type="COMPANY" weightage="20" keywordseo="NSE-Nifty">NSE Nifty</keyword> surged 86 points or 0.57 per cent to 15,283.70. Asian Paints was the top gainer in the Sensex pack, advancing nearly 3 per cent, followed by <keyword id="46869" type="COMPANY" weightage="20" keywordseo="MM">M&amp;M</keyword>, Titan, Bajaj Finserv, Nestle India, <keyword id="45179" type="COMPANY" weightage="20" keywordseo="NTPC">NTPC</keyword>, HUL, <keyword id="6354737" type="COMPANY" weightage="20" keywordseo="ONGC">ONGC</keyword> and Infosys. On the other hand, <keyword id="6357149" type="COMPANY" weightage="20" keywordseo="hdfc-bank">HDFC Bank</keyword>, IndusInd Bank, Axis Bank, SBI and Dr Reddy's were among the laggards. In the previous session, Sensex advanced 111.42 points or 0.22 per cent to finish at 50,651.90, and Nifty rose 22.40 points or 0.15 per cent to 15,197.70. Foreign institutional investors (FIIs) were net buyers in the capital market as they purchased shares worth Rs 585.36 crore on Monday, as per provisional exchange data. "Domestic equities look to be good for the day. Notably, continued decline in daily caseload in the second wave (fell below two lakh on Monday after 40 days) and improvement in recovery rates have certainly bolstered investors' confidence as this can reinvigorate sluggish economy faster, said Binod Modi Head-Strategy at Reliance Securities. Elsewhere in Asia, bourses in Shanghai, Hong Kong, Seoul and Tokyo were trading on a positive note in mid-session deals. On Wall Street, equities ended with gains in overnight trade. Meanwhile, international oil benchmark Brent crude was trading 0.25 per cent higher at USD 68.54 per barrel. SEE ALSO <a target="_blank" class="c-link" href="https://www.businessinsider.in/business/news/top-10-richest-people-in-the-world-according-to-forbes-as-of-may-24-2021/slidelist/82905029.cms">https://www.businessinsider.in/business/news/top-10-richest-people-in-the-world-according-to-forbes-as-of-may-24-2021/slidelist/82905029.cms</a> <a target="_blank" class="c-link" href="https://www.businessinsider.in/stock-market/news/tata-steel-interglobe-aviation-hero-motocorp-and-other-stocks-to-watch-out-for-on-may-24/slidelist/82898500.cms">https://www.businessinsider.in/stock-market/news/tata-steel-interglobe-aviation-hero-mot[…]-stocks-to-watch-out-for-on-may-24/slidelist/82898500.cms</a>

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