L&T stocks bullish On Winning key Contract for Bullet Train Project

Larsen and Toubro (L&T), the major technology, engineering, construction, manufacturing and financial services conglomerate has emerged as the lowest bidder, beating two other bids led by Tata Projects and Afcons Infrastructure after the National High-Speed Rail Corporation (NHSRCL) opened financial bids for package C4 on Monday. The C4 package is the largest stretch of construction for the mainline, representing 47 percent of the 508.17 km.

On Tuesday, in share market, share of  L&T rose near 2 percent to Rs 922 on National Stock Exchange (NSE) in the mid morning session of trade after the company emerged as the lowest bidder for designing and constructing the largest length of the high-speed rail line between Mumbai and Ahmedabad.

According to a PTI report citing sources, Larsen and Toubro’s contract is valued at Rs 24,985 crore. The tender reportedly covers nearly 47 percent of total alignment of 508 km, between Vapi and Vadodara in Gujarat. This includes four stations viz Vapi, Billimora, Surat and Bharuch, and Surat Depot, according to report. The National Democratic Alliance government's ambitious project of the Mumbai-Ahmedabad bullet train corridor is being built at a cost of Rs1.08 trillion with funding from the Japan International Cooperation Agency. The National High-Speed Rail Corporation had invited bids for the High-Speed Rail on 15 March 2019. Technical bids were opened on 23 September, after a delay due to COVID-19, in which three bidders qualified. The other bidders for the construction project included a consortium comprising Tata Projects Ltd, J Kumar Infra projects Ltd and NCC Ltd, and another consisting of Afcons Infrastructure Ltd, Ircon International Ltd and JMC Projects India Ltd.

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