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

Shares of L&T traded 1.9% higher on the NSE at ₹3,282 apiece after company announced on aquiring 26% stake in special purpose vehicle called NPCIL.

The company already holds a 74% shareholding in LTSSHF, which will become a wholly owned subsidiary of the company with this acquisition. Under the company’s complete ownership, LTSSHF will be able to undertake incremental investments to increase the breadth of its offerings, address market segments beyond energy, and improve overall utilisation.

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 owing to the fact that all operations are under one roof. LTSSHF caters to the specialized requirements of the nuclear, strategic, refinery, petrochemical, power, and heavy engineering industries.

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