L&T gains on signing master ship repair agreement with US Navy
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Larsen & Toubro is currently trading at Rs. 2460.00, up by 15.55 points or 0.64% from its previous closing of Rs. 2444.45 on the BSE.
The scrip opened at Rs. 2454.65 and has touched a high and low of Rs. 2478.35 and Rs. 2451.60 respectively. So far 29274 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 2503.00 on 07-Jul-2023 and a 52 week low of Rs. 1633.75 on 14-Jul-2022.
Last one week high and low of the scrip stood at Rs. 2503.00 and Rs. 2419.95 respectively. The current market cap of the company is Rs. 345714.67 crore.
The Institutions and Non-Institutions held 63.34% and 36.65% stake in the company respectively.
Larsen & Toubro’s (L&T) state-of-the-art Kattupalli Shipyard near Chennai has been undertaking voyage repairs of the Military Sealift Command vessels. After elaborate assessment by the US Navy and the Military Sealift Command, the Shipyard qualified for the Master Shipyard Repair Agreement (MSRA). This is equivalent to undertaking warship refits, for which the Shipyard has already been qualified by the Indian Navy and the Coast Guard.
The agreement marks yet another step in the growing relationship between the biggest and the oldest democracies of the world, further strengthening the strategic partnership between them in the defence sector.
L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services.
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