larsen & toubro share price: L&T rises 2% on bagging contract for high speed rail project

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Shares of Larsen & Toubro (L&T) gained 2 per cent in Thursday’s trade after its construction arm L&T Construction bagged a mega contract from the National High-Speed Rail Corporation Limited (NHSRCL) to construct 87.569 km of the Mumbai-Ahmedabad High Speed Rail (MAHSR) or the Bullet Train project.

This order to construct the C6 package of MAHSR comes on the heels of the earlier one for the C4 Package of the project, the biggest EPC contract awarded in the country to date, involving the construction of a 237.1 km stretch.

Following the development, shares of L&T rose 2.5 per cent to hit a high of Rs 1,176.75 on BSE.

In a filing to BSE, the company said scope of the project includes construction of viaducts, one station, major river bridges, maintenance depots, and other auxiliary works.

“This particular package represents 17.2 per cent of the total length, running elevated from the outskirts of Vadodara to the outskirts of Ahmedabad in the state of Gujarat with one station at Anand/Nadiad,” the company said.

CEO & Managing Director S N Subrahmanyan said that the High-Speed Rail will operate at a speed of 320 Kmph, upon completion, covering the entire distance in approximately 2 hours with limited stops and in 3 hours with all stops.

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