Moneycontrol
Last Updated : Oct 14, 2016 02:17 PM IST | Source: Moneycontrol.com

L&T shares gain 2% on railway order valued Rs 3799 crore

Larsen and Toubro (L&T) shares gained more than 2 percent intraday Friday on bagging major railway order worth Rs 3,799 crore.

 
 
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Moneycontrol Bureau


Larsen and Toubro (L&T) shares gained more than 2 percent intraday Friday on bagging major railway order worth Rs 3,799 crore.


"The transportation infrastructure business of L&T Construction has won order worth Rs 3,799 crore from the Dedicated Freight Corridor Corporation of India," the engineering and infrastructure major said in its filing.


This order is secured by a consortium by L&T and Sojitz Corporation, Japan. The project is located at northern end of western corridor and forms a link between eastern & western corridor.


The company said the works would be carried out between Rewari and Dadri (128 km) through regions of Rewari-Alwar-Mewat-Gurgaon-Palwal-Faridabad-GB Nagar in Haryana, Rajasthan and Uttar Pradesh.


With this win, L&T will be constructing 1,042 Kms out of total 1,464 Kms of track in western corridor. In addition, it will be electrifying entire western corridor from Dadri to JNPT covering 1,464 route km with over 3,330 track km of high rise electrification, the company said.

Dedicated Freight Corridor Corporation of India is a special purpose vehicle of Indian Railways, mandated to build dedicated freight corridors.
 
At 14:03 hours IST, the stock was quoting at Rs 1,466.05, up Rs 29.65, or 2.06 percent on the BSE.

Posted by Sunil Shankar Matkar

First Published on Oct 14, 2016 02:17 pm
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