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L&T gains on inking MoU with AREVA for Jaitapur Nuclear Power Project

13 Apr 2015 Evaluate

L&T is currently trading at Rs. 1778.70, up by 17.25 points or 0.98% from its previous closing of Rs. 1761.45 on the BSE.

The scrip opened at Rs. 1780.00 and has touched a high and low of Rs. 1784.30 and Rs. 1777.95 respectively. So far 11,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1892.95 on 04-Mar-2015 and a 52 week low of Rs. 1242.45 on 17-Apr-2014.

Last one week high and low of the scrip stood at Rs. 1788.05 and Rs. 1722.85 respectively. The current market cap of the company is Rs. 1,65,341.00 crore.

The Institutions and Non-Institutions held 54.19% and 43.56% respectively.

Larsen & Toubro (L&T) and France-based AREVA have signed a Memorandum of Understanding (MoU) for cooperation to maximize localization for the EPR Nuclear Power Plant to be built at Jaitapur in state of Maharashtra. AREVA’s EPR nuclear reactor is a 3rd Generation advanced pressurized water reactor.

The MoU with AREVA represents a major step forward for L&T in the field of Pressurized Water Reactor technology. This is a significant addition to L&T’s existing capabilities and the lead role it has played in equipment manufacture, construction and project management for Pressurized Heavy Water Reactors in India’s domestic nuclear power program. 

The MoU covers the prospect of partnership between L&T and AREVA in manufacturing key nuclear island equipment, valves, piping, electrical, instrumentation and engineering work. Through this partnership, AREVA will transfer technology to utilize the forging capabilities of L&T Special Steels & Heavy Forgings (a joint venture with Nuclear Power Corporation of India).


Larsen & Toubro Share Price

3973.60 -48.90 (-1.22%)
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