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.
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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.
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