L&T advances on executing India's first US order for nuclear power equipment

Larsen & Toubro is currently trading at Rs. 1333.85, up by 3.20 points or 0.24% from its previous closing of Rs. 1330.65 on the BSE.

The scrip opened at Rs. 1349.00 and has touched a high and low of Rs. 1350.00 and Rs. 1322.65 respectively. So far 93464 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 2127.00 on 12-Nov-2010 and a 52 week low of Rs. 1268.40 on 25-Oct-2011.

Last one week high and low of the scrip stood at Rs. 1405.00 and Rs. 1322.65 respectively. The current market cap of the company is Rs. 81415.11 crore.

The Institutional holding in the company stood at 52.18% while Non-Institutions held 43.58%.

Larsen & Toubro (L&T), India's leading engineering company, has executed the first order of dry shielded canisters received from Transnuclear Inc, USA, an AREVA company, which is used for storage of radioactive waste. Apart from these 12 units of canisters, L&T is ready to despatch additional 2 canisters for the next order. These canisters are for USA based leading nuclear utilities and have been manufactured in accordance with the US code of federal regulations (10 CFR) and nuclear safety class 1 standards.

The manufacture of stainless steel canisters involves maintaining stringent tolerance requirements. Canisters would be supplied for boiling water reactors (BWRs). Transnuclear Inc, USA, an AREVA company, has placed five repeat orders for supply of such canisters to leading utilities based in USA and Switzerland (EU) bringing the total ordered quantity to 73 units. This signifies international recognition of L&T's capabilities in this exclusive area and is the first step in participating in the potentially large global nuclear equipment market.

L&T is a pioneer in manufacturing technology, equipment manufacture and site / plant services for the Indian nuclear power plant program. L&T also received the prestigious `INS Industrial Excellence Award' for its outstanding contribution in the nuclear power plant sector.

Besides, L&T is the only Indian manufacturer authorised by American Society of Mechanical Engineers (ASME) to use the entire range of ‘N', ‘NPT’, 'NA' stamps and 'NS' certification. These permit L&T to design, manufacture and construct nuclear island equipment as per American standards.

L&T has been manufacturing critical nuclear components like nuclear reactors, steam generators, control rod drive mechanisms, heat exchangers, valves and NSSS pipelines over the past four decades. The company serves the nuclear power sector across the entire spectrum - from design services to equipment manufacture, erection, construction and commissioning.