Larsen & Toubro Ltd. remains at Rs 3760.4, after recent declines saw the stock slip 4.31% over the last week.
Larsen & Toubro's Transportation Infrastructure business vertical has secured twin contracts, classified as "significant" and "large," from Dubai’s Roads and Transport Authority (RTA) for the development of the Latifa Bint Hamdan Corridor, with a combined value estimated between Rs 1,000 to Rs 5,000 Cr. The projects involve constructing a new road connecting Al Khail Road with Latifa Bint Hamdan Street, along with bridges, tunnels, and an interchange on Al Meydan Street, aiming to enhance connectivity and improve traffic flow, with completion scheduled by the end of 2028. The overall corridor, extending approximately 12 km, is expected to accommodate around 16,000 vehicles per hour and reduce travel time between Umm Al Sheif Street and Emirates Road from 33 minutes to 15 minutes.
Trading volume reached 6.81 lakh shares today, representing a decrease of 28.0% from the one-week average volume. Larsen & Toubro Ltd marginally improved 2.77% year-over-year, outperforming the 7.79% loss registered by the NIFTY50 index.
