L&T surges as its construction arm secures order for heavy civil infrastructure business
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Larsen & Toubro’s (L&T) is currently trading at Rs. 2549.35, up by 59.75 points or 2.40% from its previous closing of Rs. 2489.60 on the BSE.
The scrip opened at Rs. 2523.40 and has touched a high and low of Rs. 2572.80 and Rs. 2523.30 respectively. So far 54313 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 2,572.80 on 21-Jul-2023 and a 52 week low of Rs. 1715.00 on 21-Jul-2022.
Last one week high and low of the scrip stood at Rs. 2572.80 and Rs. 2465.00 respectively. The current market cap of the company is Rs. 359222.23 crore.
The Institutions holding in the company stood at 63.54%, while Non-Institutions held 36.46% in the company.
Larsen & Toubro’s (L&T) construction arm -- L&T construction has secured order for its Heavy Civil Infrastructure Business from The National High-Speed Rail Corporation (NHSRCL) to construct the 135.45 km stretch MAHSR - C3 package which is part of the prestigious Mumbai Ahmedabad High-Speed Rail Project.
The scope for 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 called the MAHSR Bullet Train project, will cover 155.76 kms in the State of Maharashtra, 4.3 kms in the Union Territory of Dadra & Nagar Haveli and 348.04 kms in the State of Gujarat with 12 stations along the route. 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.
With this Package, L&T will be executing 92% of the main line between Shilphata in the state of Maharashtra and Ahmedabad in the state of Gujarat. L&T has significantly enhanced its capability of building faster and reliable mass transit systems and this project is in line with their strategic goals.
L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services.
