L&T bidding for rail corridor - Angel Broking

Mr. Keshav Lahoti - Associate Equity Analyst, Angel Broking Ltd

"Larsen & Toubro is set to emerge as the lowest bidder for design and construction of civil works of high speed rail corridor of Mumbai and Ahmedabad. The company has bidded ₹24,985 cr for constructing 237.1 km bullet train projects. This project is the largest among all construction lines covering 47% of 508.2 km project. Mumbai and Ahmedabad is the first bullet train project in India, which is supported by Japan. In competitive bidding, three bidders involving seven infrastructure companies participated in it. Other bidders were Afcon Infrastructure-Ircon International-JMC Projects India consortium and Tata Project-NCC-J Kumar Infra Projects-HSR Consortium. We see this as a positive development for the Company, as winning such big orders in a muted ordering activity environment alleviates new order concerns."

Shares of LARSEN & TOUBRO LTD. was last trading in BSE at Rs.903 as compared to the previous close of Rs. 894.2. The total number of shares traded during the day was 200982 in over 10270 trades.

The stock hit an intraday high of Rs. 905.35 and intraday low of 884.25. The net turnover during the day was Rs. 179838799.

Source : Equity Bulls

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