Larsen & Toubro Wins Major Order For Bullet Train Project

Larsen & Toubro’s Heavy Civil Infrastructure business won an order from the National High-Speed Rail Corporation Limited (NHSRCL) for the construction of a 135.45 km stretch MAHSR – C3 package, which is part of the prestigious Mumbai Ahmedabad High-Speed Rail Project.

What Happened: The scope of the MAHSR – C3 package includes the construction of viaducts, stations, major river bridges, depots, tunnels, earth structures, stations, and other auxiliary works.

The approximately 508 km Mumbai-Ahmedabad High-Speed Rail project, also known as the MAHSR Bullet Train project, will cover 155.76 km in Maharashtra, 4.3 km in the Union Territory of Dadra & Nagar Haveli, and 348.04 km in Gujarat with 12 stations along the route. The deal value is pegged at over ₹7,000 crore.

See Also: Why Infosys Shares Are Tanking After Q1-Print

Upon completion, the High-Speed Rail will operate at a speed of 320 Kmph, covering the entire distance in approximately 2 hours with limited stops and in 3 hours with all stops, according to the press release issued by Larsen & Toubro.

Shares of the company that were already upbeat as the company scheduled a board meeting to consider buyback and a special dividend on July 25 received a further boost from the announcement.

Price Action: L&T’s share price was up 3.22% to trade at ₹2,569.80 in the early hours of trading on Friday.

Read Next: Top 10 Highest-Paid CEOs In India

Engineered by Benzinga Neuro, Edited by Utkarsh Roshan

The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.

Market News and Data brought to you by Benzinga APIs

Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Posted In: NewsContractsLarsen & Toubro