L&T gains on the buzz of planning to set up its missile-integrated facility

30 Oct 2017

Larsen & Toubro is currently trading at Rs. 1234.70, up by 11.20 points or 0.92% from its previous closing of Rs. 1223.50 on the BSE.

The scrip opened at Rs. 1228.00 and has touched a high and low of Rs. 1236.90 and Rs. 1224.25 respectively. So far 22193 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1249.95 on 20-Sep-2017 and a 52 week low of Rs. 863.97 on 09-Nov-2016.

Last one week high and low of the scrip stood at Rs. 1243.35 and Rs. 1124.50 respectively. The current market cap of the company is Rs. 173093.43 crore.

The Institutions and Non-Institutions held 57.51% and 42.49%, stake in the company respectively.

In a bid to set up its missile-integrated facility, Larsen & Toubro (L&T) has reportedly shortlisted Tamil Nadu, Maharashtra and Gujarat. The company will set up the facility in a joint venture with French company MBDA, one of the world’s largest exporters of missile systems and will invest Rs 500 crore for the same.

The location will depend on which government gives the best incentive on aerospace and defence-related business.

Larsen & Toubro is a major technology, engineering, construction, manufacturing and financial services conglomerate, with global operations.

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