L&T rises 6% on pact with ASE

Engineering giant Larsen & Toubro’s (L&T) stock rose 6.65 per cent on news that the company had signed an agreement with Atomstroyexport (ASE) for co-operation on VVER 1000 nuclear power reactors. According to the pact, Larsen & Toubor and ASE will cooperate in the construction of new power units in Kudankulam and for plants at new sites in India and abroad.

The stock made an intra-day high of Rs 896 and a low of Rs 798.05 with trading volumes of 1.52 million shares (on par with its two-week average). The scrip gained 42.91 per cent in the last one month.