L&T installs major Cryostat base in France's nuclear fusion project

L&T Heavy Engineering successfully installed 1250 MT-Cryostat base into a reactor building in France recently.

L&T Heavy Engineering - manufactured 1250 MT-Cryostat base, the single largest section of the World's largest nuclear fusion reactor, was successfully lifted and placed into a reactor building in France recently, accomplishing a major milestone in the nuclear engineering world.

L&T has also already delivered the lower cylinder of the Cryostat in March 2019 and upper cylinder in Mar 2020. The final part, the top lid sectors will be dispatched from Hazira in July 2020. The project scope for L&T Heavy Engineering is divided into three parts, firstly manufacturing and shipping of all subassembly sections from L&T Hazira, Gujarat, then constructing a temporary workshop at the project site in France for assembling the cryostat sections into large assemblies and lastly to integrate the cryostat inside the Tokamak reactor building.

Shares of L&T rose 0.41% to Rs 965.20. On the technical front, the stock's RSI (relative strength index) stood at 63.695. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

The stock was trading between its 50-day moving average (DMA) placed at 855.55 and its 200-day moving average (DMA) placed at 1,201.34.

L&T's consolidated net profit fell 6.5% to Rs 3,197.07 crore despite a 2.2% increase in net sales to Rs 44,245.28 crore in Q4 March 2020 over Q4 March 2019.

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

Powered by Capital Market - Live News