Indian building main Larsen & Toubro (L&T) and Energy China have been awarded a contract to construct key railway amenities for the Oman-UAE railway challenge, Hafeet Rail, in response to a Saudi Gulf Tasks report on Monday, February 10.
In accordance with the information portal’s report, the nation has signed a strategic design and construct contract with Larsen and Toubro (L&T) and has given Energy China a contract to assemble railway logistics amenities within the cities of Al Buraimi and Sohar in Oman.
The brand new designs are set to fulfill world freight dealing with requirements, securing seamless transportation and dealing with of bulk, containerised, and breakbulk cargo, enhancing effectivity and multimodal connectivity, in response to the information report.
“The signing of those agreements represents a transformative step in advancing financial integration between the UAE and Oman. This strategic initiative strengthens each nations’ positions as key commerce and logistics hubs, fostering better financial diversification, industrial enlargement, and cross-border funding,” Ahmed Al Musawa Al Hashemi, the Chief Govt Officer (CEO) of Hafeet Rail, informed the information portal.
L&T Share Value
Larsen & Toubro shares closed 0.26 per cent decrease at ₹3,328.60 after Monday’s buying and selling session, in comparison with ₹3,337.40 on the earlier market shut. The shares recovered marginally on Monday however ended up closing decrease.
L&T shares hit their 52-week excessive degree at ₹3,963 on December 12, 2024, whereas the 52-week low degree was at ₹3,175.50 on June 6, 2024, in response to knowledge collected from the BSE web site.
Shares of Larsen & Toubro (L&T) have given inventory market buyers a 157 per cent return on their funding within the final 5 years and 0.89 per cent within the final one-year interval. Nonetheless, the shares have been buying and selling 9.23 per cent decrease on a year-to-date (YTD) foundation.
The corporate reported a 14 per cent year-on-year (YoY) in its consolidated web revenue to ₹3,358.84 crore, in comparison with ₹2,947.36 crore in the identical interval the earlier monetary 12 months.
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