L -; T's construction arm bags order from Chennai Metro Rail; stock adds ~3%

30 May 2022 , 11:34 AM

Larsen & Toubro Limited has informed the investors and exchanges that the company’s construction arm has secured one more package in the Chennai Metro Rail Projects.

The company has been awarded with Package C3 (CP08 EV01) of Phase-II Chennai Metro Rail Projects.

Under this project, the company will be responsible for the construction of an elevated viaduct of approximately 10 km including an elevated ramp and ten (10) elevated metro stations at Nehru Nagar, Kandanchavadi, Perungudi, Thoraipakkam, Mettukuppam, PTC colony, Okkiyampet, Karapakkam, Okkiyam Thoraipakkam, and Sholinganallur.

The estimated time for completion of this package is 35 Months.

L&T is already in charge of four packages of CMRL Phase II of which one is underground and the other three are elevated packages. It also had earlier executed Metro Rail Projects for CMRL in Phase I.

Larsen & Toubro is currently trading at Rs1,644.95 up by Rs44.55 or 2.78% from its previous closing of Rs1,600.40 on the BSE. The scrip opened at Rs1,604.10 and has touched intraday high and low of Rs1,651.95 and Rs1,604.10 respectively.