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Shares of Larsen and Toubro rises by 2.5 per cent after winning Rs 3,799 crores railway contract

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New Delhi :Shares of Larsen and Toubro on Friday rose by 2.5 per cent after the company said its consortium with Japan’s Sojitz Corp has won a Rs 3,799-crore railway contract.

The scrip gained 2.51 per cent to settle at Rs 1,472.50 on BSE. During the day, it rose 2.68 per cent to Rs 1,475. At NSE, shares of the company went up 2.53 per cent toclose at Rs 1,474.85.

In terms of volume, 1.42 lakh shares of the company were traded on BSE and over 17 lakh changed hands on NSE during the day.
The transportation infrastructure business of L&T Construction has “won a major order worth Rs 3,799 crore fromthe Dedicated Freight Corridor Corporation of India Ltd(DFCCIL)”, the company said in a statement.

The order has been secured by a consortium of L&T and Sojitz Corp, Japan, it said, adding that this integrated package involves construction of track works, overhead electrification, traction sub-stations and signaling and telecom works.

PTI

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