Larsen & Toubro (L&T) shares surged 2% after the company acquired the remaining 26% stake in L&T Special Steels and Heavy Forgings Private Limited (LTSSHF) for ₹170 crore. As of 12:01 PM, the shares were trading 1.90% higher at Rs 3,281.40.
Established in 2009, LTSSHF is a leader in manufacturing heavy forgings and specialized steel products. The company operates one of Southeast Asia’s most advanced facilities, featuring a 125-ton Electric Arc Melting Furnace and a powerful 9,000-ton Hydraulic Press. It caters to key industries, including nuclear, strategic, refinery, petrochemical, power, and heavy engineering.
L&T’s full ownership of LTSSHF aligns with its long-term strategy to diversify and enhance operational efficiencies. The acquisition is expected to boost investment, expand market reach, and drive innovation in the sector.
Over the past three years, LTSSHF has demonstrated impressive growth, with revenue increasing from ₹263 crore in FY 2021-22 to ₹503.99 crore in FY 2023-24. Despite being a related party transaction, the deal with NPCIL was conducted at arm’s length.
Larsen & Toubro (L&T) shares opened at ₹3,220.15, reaching a high of ₹3,287.50 and a low of ₹3,211.60. The stock remains close to its 52-week low of ₹3,175.05, while the 52-week high stands at ₹3,963.50.
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