Larsen & Toubro shares jump over 5% on orders to build regional rapid transit system in UP
Shares of Larsen & Toubro (L&T) on Wednesday jumped over 5 percent after the company said that it has bagged significant orders for its heavy civil infrastructure business in Uttar Pradesh
New Delhi: Shares of Larsen & Toubro (L&T) on Wednesday jumped over 5 percent after the company said that it has bagged significant orders for its heavy civil infrastructure business in Uttar Pradesh.
The scrip gained 5.27 percent to Rs 911.35 on the BSE.
On the NSE, shares of the company climbed 5.36 percent to Rs 911.90.
In a regulatory filing, L&T said, "The heavy civil infrastructure business of L&T Construction has secured two contracts to build regional rapid transit system (RRTS) infrastructure from National Capital Region Transport Corporation in Uttar Pradesh."
The scope of the project is to execute a new, dedicated, high speed, high capacity rail system in the Delhi - Ghaziabad - Meerut Corridor.
RRTS is distinct from metro transit systems as it caters to passengers travelling relatively longer distances with fewer stops and at a higher speed. The design speed for the project is 180 kmph with an average operational speed of 100 kmph.
The two contracts for RRTS have been secured for packages starting from Duhai to Modi Nagar and from Modi Nagar to Shatabdi Nagar for a total distance of approximately 32 km viaduct including 7 elevated stations.
These contracts have been bagged against stiff competition and are breakthrough projects with this customer, the company said.
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