Bullet train project speeds up in Maharashtra with massive orders to L&T
The National High-Speed Rail Corporation Limited (NHSRCL) has granted L&T Construction a contract for the Mumbai Ahmedabad high-speed rail project (MAHSR) worth more than Rs 7,000 crore.
The National High-Speed Rail Corporation Ltd. gave the company a contract to build the 135.45 km section of the MAHSR-C3 package, which is part of the Mumbai-Ahmedabad high-speed rail project, according to an exchange filing on Friday.
The MAHSR – C3 package includes the building of viaducts, stations, major river bridges, depots, tunnels, earth structures, and stations, as well as various auxiliary works.
Although L&T did not specify the order size as is customary, the filing defines orders worth more than Rs 7,000 crore as “mega” orders.
The 508-kilometer Mumbai-Ahmedabad High-Speed Rail project, also known as the MAHSR Bullet Train project, will span 155.76 kilometres in Maharashtra, 4.3 kilometres in Dadra and Nagar Haveli, and 348.04 kilometres in Gujarat.
It is planned to feature 12 stations along the way. When finished, the High-Speed Rail will travel at 320 Kmph, covering the whole trip in around 2 hours with limited stops and 3 hours with all stops.
S V Desai, Whole Time Director & Senior Executive Vice President (Civil Infrastructure) said, “This is the second largest package that L&T has won in this prestigious MAHSR project, and we are humbled by the trust reposed in us by our client, NHSRCL.”
He further added, “By deploying state-of-the-art construction methods and extensive digital technologies, we will endeavour to complete this project, leveraging the experience from other MAHSR packages that we are currently executing.”
Following this, Larsen & Toubro’s stock reached an all-time high of Rs 2,564 on Friday. The stock was trading at Rs 2,557.65, up 2.75 percent, at 11:45 a.m.
On Thursday, L&T’s stock began at Rs 2,523.40 and finished at Rs 2,489.60. The high for yesterday was Rs 2,572.80, and the low was Rs 2,523.30.
It is worth Rs 3.60 lakh crore on the stock exchange. The stock’s 52-week high is Rs 2573.35, and its 52-week low is Rs 2,371.55.
Furthermore, the stock is being keenly monitored after the company stated on Thursday that a board meeting will be held on July 25 to examine a buyback of equity shares and a special dividend for its shareholders.
