Larsen & Toubro, a multinational conglomerate, has been awarded with Rs 1,050 crore contracts for electrification of 781-km rail tracks from the Indian Railways.
This is Indian Railway’s first engineering, procurement and construction (EPC) contract under its Mission Electrification.
During last four years, total 103 railway electrification projects consisting of 16,815 route kilometres at an estimated cost of Rs 17,615 crore have been sanctioned. This contract has been awarded for electrification in two sections i.e. the Delhi-Sarai Rohilla–Rewari and Alwar– Bandikui–Jaipur–Phulera–Ajmer section (353-route-km at a cost of Rs 594 crore) and the Roha–Verna section of Konkan Railway (428-route-km at a cost of Rs 456 crore).
Meanwhile, the stock on Friday closed lower by 0.73% at Rs 773 per share on BSE.
Stock View:
Larsen & Toubro Ltd is currently trading at Rs 1150, down by Rs 26.7 or 2.27% from its previous closing of Rs 1176.7 on the BSE.
The scrip opened at Rs 1176.7 and has touched a high and low of Rs 1200 and Rs 1150 respectively. So far 1105056(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 164772.63 crore.
The BSE group 'A' stock of face value Rs 2 has touched a 52 week high of Rs 1222.67 on 30-May-2017 and a 52 week low of Rs 863.54 on 09-Nov-2016. Last one week high and low of the scrip stood at Rs 1206 and Rs 1167.95 respectively.
The promoters holding in the company stood at 0 % while Institutions and Non-Institutions held 56.17 % and 41.81 % respectively.
The stock is currently trading below its 50 DMA..
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