L&T shares gained more than 2 percent in a powerless market after the foundation major sacked an agreement worth ₹ 1,390 crore from the National High-Speed Rail Corporation Limited (NHSRCL). The contract was for procurement and fabrication of 28 steel bridges for getting over railroad lines, streams, thruways, street, and different constructions for the Mumbai Ahmedabad High-Speed Rail corridor, as a feature of the country’s first bullet train project.
At 9:55 am, the shares of L&T were trading at ₹ 1,378.60, higher by ₹17 or 1.2 percent, on the Bombay Stock Exchange. The offers have touched an intra-day high of ₹ 1,392.80 and a low of ₹ 1,361.15 hitherto.
NHSRCL granted the agreement to Larson and Toubro – IHI Infrastructure Systems (Consortium) on January 25.