L&T gains on inking strategic partnership with CCTE

Larsen & Toubro is currently trading at Rs. 3606.00, up by 29.75 points or 0.83% from its previous closing of Rs. 3576.25 on the BSE.

The scrip opened at Rs. 3576.25 and has touched a high and low of Rs. 3620.00 and Rs. 3570.50 respectively. So far 85269 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 3948.60 on 03-Jun-2024 and a 52 week low of Rs. 2856.85 on 30-Oct-2023.

Last one week high and low of the scrip stood at Rs. 3620.00 and Rs. 3501.00 respectively. The current market cap of the company is Rs. 495513.79 crore.

The Institutions and Non-Institutions held 62.39% and 37.61%, stake in the company respectively.

Larsen & Toubro (L&T) and Clean Core Thorium Energy (CCTE), a US-based advanced nuclear fuel company, have signed a Memorandum of Understanding (MoU) to collaborate on providing efficient solutions globally in clean energy through the CCTE’s patented ANEEL fuel (Advanced Nuclear Energy for Enriched Life). The ANEEL fuel will promote clean energy, non-proliferation, enhanced safety, decarbonisation of hard-to-abate industries and circular economy.

The ANEEL fuel is made of thorium and enriched uranium developed for use in Pressurised Heavy Water Reactors (PHWR), Canada Deuterium Uranium (CANDU) Reactors and Advanced Nuclear Reactors. Proliferation-resistant ANEEL fuel is expected to significantly reduce life-cycle operating costs and the waste produced (by over 85% while improving safety due to its Accident- Tolerant Fuel characteristics). Also, the ANEEL fuel will offer added advantage of energy security by large scale deployment of thorium and reduce uranium consumption. 

Under a Strategic Partnership Project Agreement with the US Department of Energy (DOE), CCTE’s ANEEL fuel is currently undergoing accelerated irradiation testing and qualification in the Advanced Test Reactor at Idaho National Lab, and is on its way to achieving planned burn-up targets of up to 60 GWd/T. Clean Core has also been actively partnering and engaging with key industry players including regulators, utilities and suppliers to achieve the successful commercialisation of the ANEEL fuel by 2026. 

Larsen & Toubro is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services.