• October 21, 2024
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L&T gains as EPC major bags bullet train project with Rs 15,697-crore bid

L&T gains as EPC major bags bullet train project with Rs 15,697-crore bid

As per financial bid result, L&T has emerged as the lowest bidder to construct 135.45 km section of Mumbai-Ahmedabad High Speed Rail project at Rs 15,697 crore. According to Macquarie, this bid value is one of the largest order wins.

Larsen & Toubro

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Shares of Larsen & Toubro (L&T) climbed over a percent on June 19 after the EPC major reportedly won a significant order for a bullet train project.

At 10:34am, the L&T stock was trading at Rs 2,393.6, up 1.2 percent, on the BSE.

The National High Speed Rail Corporation on June 16 opened the financial bids for a major contract package of the Mumbai-Ahmedabad High Speed Bullet Train Project in New Delhi, according to reports.

Catch up on all LIVE stock market updates here

L&T has emerged as the lowest bidder for the 135.45km section of the Mumbai-Ahmedabad High Speed Rail project between Shilphata and Zaroli in Maharashtra and three elevated bullet train stations at Thane, Virar and Boisar, the report said.

L&T is said to have placed the bid at Rs 15,697 crore. According to Macquarie, this bid value is one of the largest order wins.

The company has received a major boost with MSCI upgrading its ESG rating to BB from B, Macquarie added.

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