L&T gains as consortium signs contract for Western Dedicated Freight Corridor project

21 Aug 2013

Larsen & Toubro is currently trading at Rs. 762.50, up by 29.25 points or 3.99% from its previous closing of Rs. 733.25 on the BSE.

The scrip opened at Rs. 745.75 and has touched a high and low of Rs. 764.00 and Rs. 744.00 respectively. So far 21,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1146.91 on 29-Oct-2012 and a 52 week low of Rs. 710.10 on 19-Aug-2013.

Last one week high and low of the scrip stood at Rs. 810.00 and Rs. 710.10 respectively. The current market cap of the company is Rs. 70,549.00 crore.

The Institutions and Non-Institutions held 52.81% and 44.04% respectively.

Larsen & Toubro's consortium with Japan's Sojitz has signed an EPC rail contract with the Dedicated Freight Corridor Corporation of India (DFCCIL) for the construction of 626 km of a double track corridor from Rewari in Haryana to Iqbalgarh in Gujarat, via Rajasthan. The engineering, procurement and construction order secured by the Sojitz-L&T Consortium involves construction of 626 km of a double track corridor from Rewari in Haryana to Iqbalgarh in Gujarat, via Rajasthan, spanning three states.

The consortium’s scope includes construction of 1388 track km of railway line, 112 major bridges, 1188 minor bridges, 20 stations along with supply of equipment. The project will be executed using mechanized means of sleepers and track lining machines using the latest technology in railway construction. Adopting advanced construction technologies, the consortium is expected to complete the project in 48 months.

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