Larsen & Toubro stock rises 3% as arm wins order for dedicated freight corridor project

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Larsen & Toubro stock rises 3% as arm wins order for dedicated freight corridor project
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Larsen & Toubro share value touched an intraday excessive of Rs 868.9, rising 3.36% on BSE towards the earlier closing worth of Rs 840.65. The L&T inventory has gained after four days of consecutive fall.

Larsen & Toubro stock rises 3% as arm wins order for dedicated freight corridor project

As per the submitting, the awarded contract values within the vary of Rs 1,000- Rs 2,500 crore.

Larsen & Toubro share value rose over 3% on Friday after the development main mentioned its arm L&T Development had bagged the Japanese Devoted Freight Hall Venture contract.

The corporate mentioned L&T Development’s Transportation Infrastructure in consortium with M/s Kyosan Electrical Manufacturing Co. Japan has gained a major order within the type of three packages from the Devoted Freight Hall Company of India Restricted (DFCCIL).

Larsen & Toubro share value touched an intraday excessive of Rs 868.9, rising 3.36% on BSE towards the earlier closing worth of Rs 840.65. The L&T inventory has gained after four days of consecutive fall.

Larsen & Toubro inventory value stands larger than 20-day shifting averages however decrease than 5, 50, 100 and 200-day shifting averages. The inventory value of Larsen & Toubro has risen over 20% in final one month.

“Design and Construct orders contain 2×25 KV Overhead Electrification, Signalling zero Telecommunication and Related works within the Dadri – Khurja and Sahnewal – Khurja sections of the Japanese Devoted Freight Hall (EDFC). The works are unfold throughout 442 route km and 638 monitor kilometres,” the corporate mentioned in a regulatory submitting.

As per the submitting, the awarded contract values within the vary of Rs 1,000- Rs 2,500 crore.

In one other replace, the corporate mentioned its board has permitted allotment of NCDs value Rs 3,800 crore.

Larsen & Toubro shares closed 1.18% or 9.95 factors larger at Rs 850.60 right now.

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