L&T soars on acquiring balance 26% stake in LTSSHF from NPCIL
Larsen & Toubro is currently trading at Rs. 3267.95, up by 47.20 points or 1.47% from its previous closing of Rs. 3220.75 on the BSE.
The scrip opened at Rs. 3224.30 and has touched a high and low of Rs. 3271.95 and Rs. 3211.30 respectively. So far 10589 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 3963.00 on 10-Dec-2024 and a 52 week low of Rs. 3175.50 on 05-Jun-2024.
Last one week high and low of the scrip stood at Rs. 3318.95 and Rs. 3183.25 respectively. The current market cap of the company is Rs. 448664.60 crore.
The Institutions holding in the company stood at 62.66%, while Non-Institutions held 37.35% in the company.
Larsen & Toubro has acquired the balance 26% stake in L&T Special Steels and Heavy Forgings (LTSSHF) from Nuclear Power Corporation of India (NPCIL) and also executed the Joint Venture Termination Agreement with NPCIL. The company already holds 74% shareholding in LTSSHF and with this acquisition, it will become a wholly owned subsidiary of the company. Under company’s complete ownership, LTSSHF will be able to undertake incremental investments to increase the breadth of its offerings to address market segments beyond energy and to improve overall utilization.
LTSSHF has a state of art fully integrated facility for manufacturing of heavy forgings with one of the biggest Electric Arc melting furnaces of 125 Ton and the largest Hydraulic press in India (capacity of 9000 Tons). It’s one of its kind in South-East Asia owing to the fact that all operations are under one roof. LTSSHF caters to specialized requirements of nuclear, strategic, refinery, petrochemical, power and heavy engineering industries.
Larsen & Toubro (L&T) is a major technology, engineering, construction, manufacturing and financial services conglomerate, with global operations.
