L&T shares advance nearly 3% as company emerges lowest bidder for road bridge project

Shares of Larsen & Toubro (L&T) rose nearly 3 per cent in early trade on Tuesday after the company emerged as the lowest bidder for a Rs 3,200-crore road bridge project over Brahmaputra river.
The company's shares were trading 2.82 per cent higher at Rs 1,089 on the BSE.

On the NSE, the scrip gained 2.88 per cent to Rs 1,089.70.

The engineering and construction giant emerged as the lowest bidder for a Rs 3,200-crore project to build a road bridge over the Brahmaputra river, according to an NHIDCL official.

"Larsen & Toubro has emerged as the lowest bidder for about Rs 3,200 crore four-lane road bridge across river Brahmaputra from Dhubri to Phulbari on NH 127 B," the National Highways & Infrastructure Development Corporation (NHIDCL) official said.

The project is being financed by Japan International Cooperation Agency (JICA).

The proposed 18-km long strategic bridge will connect Assam and Meghalaya, reducing the detouring road distance by about 203 km from Dhubri to Phulbari, which lie on the either side of Brahmaputra river before it flows into Bangladesh.