L&T Consolidates Control: Acquires NPCIL's Stake in Special Steels Venture for ₹1.70 Billion

Larsen & Toubro (L&T) has strengthened its position in the heavy forgings sector by acquiring the remaining 26% stake in L&T Special Steels and Heavy Forgings (LTSSHF) from Nuclear Power Corporation of India Limited (NPCIL) for ₹1.70 billion. This strategic move gives L&T full ownership of the joint venture, which specializes in manufacturing critical components for nuclear, strategic, and hydrocarbon sectors. The acquisition allows L&T to invest more freely in LTSSHF's state-of-the-art facility at Hazira, Gujarat, enhancing its capabilities in producing ultra-heavy forgings. This development is expected to boost India's self-reliance in critical manufacturing sectors.
Sources: The Financial Express, MarketScreener, The Machine Maker