Larsen and Toubro Ltd.’s shares were up by 0.19 per cent after the company’s division, L&T Construction, secured a contract from the Mumbai Metropolitan Region Development Authority (MMRDA) for the construction of an Underground Road tunnel project in Mumbai.
The project involves the design and construction of twin road tunnels utilising Tunnel Boring Machines (TBMs), connecting them to the existing elevated Eastern Freeway at Orange Gate and the Marine Drive Coastal Road.
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The project, set to be completed within 54 months, will primarily run beneath the Sardar Vallabhbhai Patel Road. L&T Construction’s expertise in constructing efficient mass transit systems aligns with the company’s objectives. The contract falls under the “Mega” category, with a value exceeding Rs 7000 crore.
The shares were up by 0.19 per cent to ₹3017.45 at 10.30 a.m. on the BSE.