/ Larsen & Toubro Enters Into A JV For Development Of Sophisticated Missile Systems ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Monday, 13 February 2017

Larsen & Toubro and MBDA have set up a joint venture to develop and supply missiles and missile systems to meet the growing potential requirements of the Indian armed forces.

The joint venture named ‘L&T MBDA Missile Systems Ltd.,' will start its operations in the first half of 2017. As per FDI policy, L&T will hold 51% of the stakes and MBDA 49%.

L&T and MBDA have collaborated and partnered on co-development and production of major subsystems, involving complex technologies and sophisticated weapon systems such as MICA missile launchers and airframe segments including control actuation units for Indian MoD orders.

Larsen & Toubro is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with USD 16 billion in revenue. Larsen & Toubro Ltd is currently trading at Rs 1494.85, down by Rs 6.25 or 0.42% from its previous closing of Rs 1501.1 on the BSE.

The scrip opened at Rs 1505 and has touched a high and low of Rs 1508.15 and Rs 1482.6 respectively. So far 498010(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 140047.5 crore.

The BSE group 'A' stock of face value Rs 2 has touched a 52 week high of Rs 1615 on 27-Jul-2016 and a 52 week low of Rs 1016.6 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs 1510 and Rs 1473.1 respectively.

The promoters holding in the company stood at 0 % while Institutions and Non-Institutions held 55.58 % and 42.37 % respectively. The stock is currently trading above its 200 DMA.

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