Shares of Larsen & Toubro (L&T) advanced nearly 3 percent intraday level on Tuesday after the company emerged as the lowest bidder for a Rs 3,200-crore road bridge project over the Brahmaputra river. The company's shares were trading 2.95 percent higher at Rs 1,090 on the National Stock Exchange (NSE) during the noon session.
The engineering and construction conglomerate emerged as the lowest bidder for a Rs 3,200-crore project to build a road bridge over the Brahmaputra river, according to an NHIDCL official.
National Highways & Infrastructure Development Corporation (NHIDCL) official announced, "Larsen & Toubro has emerged as the lowest bidder for about Rs 3,200 crore four-lane road bridge across river Brahmaputra from Dhubri to Phulbari on NH 127 B," The project is being financed by Japan International Cooperation Agency
The proposed 18-km long strategic bridge will connect Assam and Meghalaya, reducing the detouring road distance by about 203 km from Dhubri to Phulbari, which lie on either side of the Brahmaputra river before it flows into Bangladesh.
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