L&T gains as consortium wins Rs 3,799 crore railway order

The stock moved higher by 2.6% to Rs 1,474 on the BSE.

Larsen & Toubro (L&T) has moved higher by 2.6% to Rs 1,474 on the BSE after the company said it has won a major order worth Rs 3,799 crore from the Dedicated Freight Corridor Corporation of India (DFCCIL). This prestigious order has been secured by a consortium of L&T and Sojitz Corp., Japan.

“This design and build integrated package involves the construction of civil (embankment, structure, tunnel), track works, overhead electrification, traction substations and signaling & telecommunication works for double line electrified tracks with 2X25 kv AC, high rise overhead catenary system capable of operating at a maximum train speed of 100 km/h, from Rewari to Dadri (128 km),” L&T said in a press release.

DFCCIL is a special purpose vehicle of Indian Railways, mandated to build dedicated freight corridors. This project is funded by Japan International Cooperation Agency (JICA) and is a part of the western corridor proposed between Dadri (near Delhi) and Jawaharlal Nehru Port Trust (near Mumbai).

Till 02:34 pm, a combined 1.5 million shares changed hands on the counter on the BSE and NSE.