L&T, BEML, Tata Power rise on Rs 2,580 crore deal with Defence Ministry
Shares of Larsen & Toubro (L&T), Tata Power, and Bharat Earth Movers (BEML), gained on the BSE on Tuesday, a day after the Defence Ministry signed contracts with these companies worth Rs 2,580 crore to procure Pinaka rocket launchers for six Army regiments.
At 09:32 AM, L&T was trading over 1.7 per cent higher at Rs 961.65. It hit a high of Rs 965.95 in the opening deals. Tata Power was trading over 2 per cent higher at Rs 60.05 while BEML hit a high of Rs 699.95, up 4.5 per cent against Monday’s close of Rs 669.2.
In comparison, the benchmark S&P BSE Sensex was trading nearly a per cent higher at 38,974.68 levels.
The Acquisition Wing, Ministry of Defence signed contracts with Bharat Earth Movers Ltd (BEML), Tata Power Company Ltd (TPCL), and Larsen & Toubro (L & T) on August 31, a statement from the ministry said.
