L&T Share Price ๐Ÿ“ˆ๐Ÿ’ฐ: Boost for Investors as Company Bags Major Contract in Bengaluru Suburban Railway Project ๐Ÿš†๐Ÿ’ผ

In a positive development for L&T, the company has been awarded a significant contract under the Bengaluru Suburban Railway Project. The Karnataka Rail Infrastructure Development Company Limited (KRIDE) issued a letter of acceptance for the contract amendment to L&T on December 30, 2023. Under this order, L&T is tasked with completing the civil work on the 46-kilometer long Kanka Line Corridor-4 of the Bengaluru Suburban Railway Project. The total cost of the project is estimated at INR 1,040 crores.

As part of the project, L&T will be responsible for designing and constructing an 8.9-kilometer long bridge. The project will be executed on an Engineering, Procurement, and Construction (EPC) basis. On January 1, 2024, L&T’s share price was trading at INR 3,515.75 with a decrease of 0.29%. However, on Tuesday, January 2, 2024, the share price witnessed a further decline of 2.34% and was trading at INR 3,443.

L&T emerged as the lowest bidder for the Bengaluru Suburban Railway Works tender in August 2023. However, there were delays in the land transfer process. Now, KRIDE has issued a work order to L&T, entrusting them with the responsibility of completing this railway project. The tenders for the Kanka Line were invited in January 2023, and the total project cost is INR 1,040.51 crores. L&T has been given a timeline of 30 months to complete the project.

The South Western Railway will soon transfer land for the Bengaluru Suburban Project’s Corridor-4. The construction of a double-decker viaduct will be a special feature of Corridor 1 and Corridor 2. The total length of the project will be 149 kilometers. In October 2020, the Indian government approved the 149-kilometer long suburban railway project. The foundation stone for the project was laid by Prime Minister Narendra Modi in 2022, and it may take at least 6 years for the project to be completed. The Karnataka state government has set a deadline of 2028 for the completion of the project. Currently, L&T has commenced work on the 25-kilometer long Corridor 2 project.

With this major contract win and ongoing railway projects, L&T’s share price is expected to attract more attention from investors in 2023. Stay tuned for further updates on L&T’s performance in the stock market and its contributions to the development of India’s railway infrastructure. ๐Ÿ’ผ๐Ÿš†๐Ÿ“ˆ๐Ÿ’ฐ

Disclaimer: This is News Coverage with Opinions of Experts and Should Not Be Taken as Direct Market Buying Tip. Market is always subject to risk. We recommend taking our content as research before investing.

Serving "เคœเคนเคพเค Indian เคตเคนเคพเค India" Since 2014. I Started News Desk in Early Days of India Internet Revolution and 4G. I write About India for Indians.

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