The share price of L&T traded at Rs 949.50 with a positive growth of 2.17% at 2:02 hours. The spike can be seen as the result of Larsen & Turbo (L&T) acquiring the 88 KM long viaduct bullet train contract worth Rs 7,289 crore. The financial bids were open for the design and construction of 88 KM (approximately) length of the viaduct between Vadodara and Ahmedabad in Gujarat. The project includes the construction of Anand/Nadiad Station for the Mumbai-Ahmedabad High-Speed Rail corridor.
The viaduct project includes, construction of 4 elevated HSR stations – Vapi, Billimora, Surat, and Bharuch, and one train depot. The technical bids for this tender were opened on 25th September 2020 and L&T emerged as the lowest bidder.
L&T has already got a contract of about 25 thousand crores – bullet train project of Mumbai-Ahmedabad. This is an important project of NHSRCL which will connect both Mumbai and Ahmedabad with a high-speed bullet train. It will cut the travel time by a huge leap. Once the project is completed, the distance between Ahmedabad and Mumbai will be covered in just 2 hours. Currently, it takes 7 hours from a regular train.
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