L&T forms JV with Cassidian; stock up

MUMBAI: L&T and Cassidian, earlier known as EADS Defence & Security, have formed a joint venture to cater to the field of defence electronics. The JV aims to cover manufacturing, design, engineering, distribution and marketing in the field of electronic warfare, radars, avionics and mobile system for military applications.

The stock was at Rs 1492.40, up 0.71 per cent on the NSE. It moved between a high of Rs 1513 and low of Rs 1461 in trade so far.