L&T shares up 3.5% on Westinghouse deal

MUMBAI: Shares of engineering major Larsen & Toubro were in demand after it announced that it has signed a memorandum of understanding with Westinghouse Electric Company to build 1,000 megawatt nuclear plants in India.

L&T will be responsible for construction and fabrication while Westinghouse's will provide design, engineering and procurement of major components, the company said in a statement. Westinghouse Electric is a unit of Japan's Toshiba Corp.

At 11:45 am, the L&T stock was up 3.48 per cent at Rs 729.30.