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.
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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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