L&T shares up over 2% on signing pact with Areva

Stocks of engineering major Larsen & Toubro rose by over 2 per cent today following its pact with French firm Areva for cooperation to maximise localisation for the 9,900-MW Jaitapur nuclear plant in Maharashtra.
The scrip went up by 2.30 per cent to close at Rs 1,801.95 on the BSE. During the day, it gained 2.41 per cent to Rs 1,804.
On the NSE, the stock settled 2.07 per cent up at Rs 1,800.60.
"Both the companies have signed an MoU for cooperation to maximise localisation for the EPR nuclear power plant to be built at Jaitapur, Maharashtra. Areva's EPR nuclear reactor is a third generation advanced pressurised water reactor," L&T had said in a statement on Saturday.

The MoU with Areva represents a major step forward for L&T in pressurised water reactor technology, it had said.
The MoU covers the prospect of partnership between L&T and Areva in manufacturing key nuclear island equipment, valves, piping, electrical, instrumentation and engineering work.
Meanwhile, in the broader market the BSE benchmark Sensex ended at 29,044.44, up 165.06 points.