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Shares of Larsen & Toubro has risen nearly 2 per cent as it has emerged as the lowest bidder for the design and construction of a key corridor in the Mumbai-Ahmedabad High-Speed Rail corridor, also called MAHSR Bullet Train project.
The financial bids for the design and construction of the 237-km length of mainline for Mumbai-Ahmedabad High-Speed Rail corridor were opened on September 23. The tender covers about 47 per cent of total alignment of 508 km, between Vapi and Vadodara in Gujarat. Other bidders included a consortium of Afcons Infrastructure Limited, IRCON International Limited, JMC Projects India, a consortium involving NCC Limited, Tata Project Ltd, J Kumar Infra Projects Ltd, HSR, according to National High-Speed Railway Corporation Limited (NHSRCL).
The company's shares are currently quoting at ₹918.35/apiece, up 1.71 per cent.
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