L&T shares soars on acquiring a balance 26% stake in LTSSHF from NPCIL

Following the announcement that the company would acquire a 26% stake in the special purpose vehicle NPCIL, shares of L&T traded 1.9% higher on the NSE at Rs 3,282 each.

Larsen and Toubro have completed the Joint Venture Termination Agreement with the Nuclear Power Corporation of India (NPCIL) and acquired the remaining 26% stake in L&T Special Steels and Heavy Forgings (LTSSHF).

The company possesses a 74% shareholding in LTSSHF, which will become a wholly owned subsidiary of the company as a result of this acquisition. LTSSHF will be able to make incremental investments to broaden its offerings, address market segments beyond energy, and enhance overall utilization under the company's complete ownership.

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LTSSHF has a state-of-the-art, fully integrated facility for manufacturing heavy forgings, with one of the biggest Electric Arc melting furnaces (125 Tons) and the largest Hydraulic press in India (capacity of 9000 Tons).

It’s one of its kind in South-East Asia since all operations are under one roof. LTSSHF caters to the specialized requirements of the nuclear, strategic, refinery, petrochemical, power, and heavy engineering industries.

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