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L&T gains as its arm enters into technology transfer agreement with JSW

27 May 2014

Larsen & Toubro is currently trading at Rs. 1565.30, up by 21.10 points or 1.37% from its previous closing of Rs. 1544.20 on the BSE.

The scrip opened at Rs. 1550.00 and has touched a high and low of Rs. 1574.55 and Rs. 1522.80 respectively. So far 1,27,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1622.70 on 26-May-2014 and a 52 week low of Rs. 678.10 on 28-Aug-2013.

Last one week high and low of the scrip stood at Rs. 1622.70 and Rs. 1471.00 respectively. The current market cap of the company is Rs. 1,45,287.00 crore.

The Institutions and Non-Institutions held 55.07% and 42.25% respectively.

Larsen & Toubro’s (L&T) subsidiary - L&T Special Steels and Heavy Forgings (LTSSHF) has entered into a technology transfer agreement with The Japan Steel Works (JSW) - an acknowledged world leader in the field of heavy steel forgings. The five year agreement covers transfer of critical technology for steel melting & heavy forgings made from ingots weighing up to 200 MT, for hydrocarbon, thermal power, steel & cement sectors.

LTSSHF supplies critical heavy stainless steel & alloy steel forgings for high pressure reactors & heat exchangers, as well as rotors, shafts, forged slabs and special steels. Direct access to L&T’s jetties at Hazira facilitates exports across the globe. Indigenous manufacture of critical heavy forgings will close a vital gap in Indian industry’s capability to produce equipment for Core sectors.

The new technology collaboration supports L&T’s commitment to remain at the forefront of manufacturing technology across key sectors. Over the years, L&T has introduced several new products & processes which have helped India make a mark on the global heavy industry landscape.

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SEBI Registered: Investment Adviser - INA000013323