L&T Share News: Larsen & Toubro, a company engaged in the production of infrastructure and defense equipment, has received an order to make AIP systems for naval submarines. This had a positive effect on the company’s shares and today Larsen’s shares reached a 52-week high. According to the latest reports, Larsen & Toubro will make the AIP systems for the submarines of the Indian Navy. For this, the company has got a contract from DRDO.
As per the contract, Larsen will manufacture two air independent propulsion system modules for the Navy’s Calvary class submarines. Larsen is also likely to be entrusted with the work of building modules for the other five submarines of this class. Apart from this, it can also export this system in future.
The stock hit a 52-week high
After this announcement of Larsen & Toubro, there was a jump in the stock. Larsen’s stock rose one percent today to a fifty-two week high of 2424. Finally the stock closed at 2418. Larsen’s 52 week high of Rs. 2424 and 52-week low of Rs. 1468 Larsen & Toubro’s share has increased by 62 percent in the last one year. A year ago this stock was running at 1494 which has now increased to 2418. A year ago, if an investor had invested Rs 1 lakh in Larsen’s shares, today its value would have increased to Rs 1.62 lakh.
Larsen’s stake has increased by 16 per cent since January 2023. While this stock has increased by 17 percent in a period of six months. Within the last one month, this stock has given a return of 10%. If Larsen’s shares worth Rs 1 lakh had been bought six months ago, it would have been worth Rs 1.17 lakh today.
What is AIP System Technology?
Larsen & Toubro has been awarded a contract to develop AIP system technology for the Navy that can generate hydrogen on demand. So the submarine doesn’t need to carry the amount of hydrogen it already has. Apart from this, the hydrogen tank can also be a challenge for security. Apart from this, this technology does not spread any kind of pollution and the water generated from it can be released into the sea.
