Shares of Larsen & Toubro Ltd (L&T) fell 1% after hitting a day’s high of Rs 4,041 on 3rd November, despite the company announcing that its Heavy Engineering business has signed a Memorandum of Understanding (MoU) with the Asia arm of US-based nuclear energy solutions provider Holtec International.

The MoU focuses on the design and construction of heat transfer equipment.

L&T said it is already working with Holtec on the global deployment of the SMR-300 small modular reactor. This effort is supported by the 810 Authorisation from the US Department of Energy. The new MoU expands this collaboration.

The partnership will combine L&T’s nuclear manufacturing expertise with Holtec’s design capabilities. The goal is to deliver advanced heat transfer solutions for nuclear and thermal power plants worldwide.

Both companies aim to develop reliable, efficient technology to optimise thermal regulation and improve cycle efficiency. They also seek to ensure smooth power plant operations and contribute to the global energy transition.

Anil Parab, Whole-time Director and Senior EVP of L&T’s Heavy Engineering division, said the partnership marks a key step. It will help accelerate the adoption of efficient energy systems and support a sustainable energy future.

Recently, L&T also partnered with US-based General Atomics Aeronautical Systems Inc. (GA-ASI) to manufacture Medium Altitude Long Endurance (MALE) drones in India for the armed forces. Under this collaboration, L&T will be the prime bidder for the Ministry of Defence’s upcoming 87 MALE RPAS programme. Meanwhile, GA-ASI will serve as the technology partner.

At 1:38 PM, shares of Larsen & Toubro were trading 0.97% lower at Rs 3,991.90 on NSE.

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