Larsen & Toubro’s stock is under keen observation after the business said on Thursday that its board of directors would meet on July 25 to discuss a repurchase of equity shares and a special dividend for its shareholders.
For the high-speed rail project between Mumbai and Ahmedabad, L&T Construction was given the order by the National High-Speed Rail Corporation Limited (NHSRCL), which is worth an estimated more than Rs 7,000 crore.
The National High-Speed Rail Corporation Ltd. has given the business a contract to build the 135.45 km stretch of the MAHSR-C3 package, a component of the high-speed rail project between Mumbai and Ahmedabad, according to a filing with the exchange on Friday.
The MAHSR-C3 package’s scope includes developing viaducts, stations, important river bridges, depots, tunnels, earth structures, stations, and other auxiliary works.
In accordance with the usual procedure, L&T has not revealed the order size; nonetheless, the filing designates orders with a value greater than Rs 7,000 crore as “mega” orders.
The 155.76 km route in Maharashtra, 4.3 km in Dadra & Nagar Haveli, and 348.04 km in Gujarat would be covered by the 508 km Mumbai-Ahmedabad High-Speed Rail project, popularly known as the MAHSR Bullet Train project. Along the way, there are supposed to be 12 stops. Once it is finished, the High-Speed Rail will run at a speed of 320 Kmph, traversing the full route in around 2 hours with a few stops and in 3 hours with all stops.
After that, Larsen & Toubro stock reached an all-time high on Friday of Rs 2,564. The stock was trading at Rs 2,557.65 at 11:45 a.m., up 2.75 percent.
On Thursday, L&T’s shares finished at Rs. 2,489.6 after opening the day at Rs. 2,523.4. The high and low for yesterday were Rs 2,572.8 and Rs 2,523.3, respectively.
3.60 lakh crores of rupees are its market capitalization. The stock’s 52-week high is 2573.35 rupees, and its 52-week low is 2,371.55 rupees.
