Monday , 29 November 2021
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L&T inches up on signing MoU with Tamil Nadu government to establish data center at Kanchipuram

L&T inches up on signing MoU with Tamil Nadu government to establish data center at Kanchipuram

Larsen & Toubro is currently trading at Rs. 1892.15, up by 3.90 points or 0.21% from its previous closing of Rs. 1888.25 on the BSE.

The scrip opened at Rs. 1891.00 and has touched a high and low of Rs. 1901.95 and Rs. 1888.10 respectively. So far 11141 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 1982.95 on 15-Nov-2021 and a 52 week low of Rs. 1092.35 on 27-Nov-2020.

Last one week high and low of the scrip stood at Rs. 1953.00 and Rs. 1837.30 respectively. The current market cap of the company is Rs. 265268.77 crore.

The Institutions and Non-Institutions held 56.20% and 43.80% stake respectively in the company.

Larsen & Toubro (L&T) has signed a memorandum of understanding (MoU) with the Government of Tamil Nadu to establish a data center at Kanchipuram, Tamil Nadu. The company will establish 90 MW capacity Data Centers and associated units in a phased manner in Kanchipuram over the next 5 years.

The company envisages to employ around 1100 people (600 direct and 500 indirect) in the project. The government of Tamil Nadu will provide uninterrupted power supply and other infrastructure support on a best-effort basis that will bring tangible economic and social benefits to the people of Tamil Nadu. It will be establishing hyperscale Data Centers at Kanchipuram to provide comprehensive solutions and end to end data center services, with multi-cloud managed and cyber security services, digital transformation integration services and application integration services.