L&T shares rise 3% as company commissions its first hydrogen electrolyser in Gujarat

Shares of Larsen & Toubro (L&T) rose nearly 3% in early trade after the infra major commissioned its first domestically produced hydrogen electrolyser at its green hydrogen plant in Hazira, Gujarat. L&T stock gained 2.68% to a fresh high of Rs 3575 against the previous close of Rs 3481 on BSE.

The stock of the infra major has gained 10.68% this year and risen 68.44% in the last one year. Total 0.64 lakh shares of the firm changed hands amounting to a turnover of Rs 22.89 crore on BSE. Market cap of L&T rose to Rs 4.89 lakh crore.  

The achievement marks the entry of L&T Electrolysers Limited into domestic electrolyser manufacturing, the company said. "This advancement significantly bolsters our offerings across the value chain, showcasing L&T as a global force in the clean energy space."

"Featuring a rated power capacity of 1 MW (expandable to 2 MW), this electrolyser can produce 200 Nm3/Hr of hydrogen. It is equipped with two stacks and an electrolyser processing unit ML-400, and offers exceptional flexibility and thermal stability," the company said in a stock exchange filing, mentioning that the electrolyser will undergo rigorous testing in the upcoming weeks.

Subramanian Sarma, Whole-time Director & Sr EVP (Energy), L&T said, "The indigenously manufactured electrolyser marks a transformative leap towards clean energy, positioning us to lead not only in the domestic market but also globally. This advancement significantly bolsters our offerings across the value chain, showcasing L&T as a global force in the clean energy space."