Goodluck India Ltd awarded LoI by L&T for Bullet Train Project

Goodluck India Ltd. a {BSE: 530655, NSE: GOODLUCK}, among leading steel processor and manufacturing of engineering products, has been awarded Letter of Intent {LoI} by L&T Ltd. for Bullet Train project in India.

The LoI by L&T is for the prestigious calendar project of supply and fabrication of special bridges on the National High Speed Rail Track between Mumbai and Vapi {Bullet Train Project}. The value of the order stands at Rs. 198.76 crore. The execution period of the order envisages the completion of the project stands to be completed by 2023. It will be executed under the expert supervision of IHI-Japanese experts in the area of design and supply of steel bridges.

Commenting on this development, Mr. M C Garg, Chairman, Goodluck India Ltd. said: "We feel privileged to announce the award of Lol for the supply. and fabrication of steel structures by our Structure division. This is a landmark milestone achieved by us. This is another indication of the confidence that various entities show upon us for our quality and execution capabilities.

It will be hugely rewarding as the engineers of Goodluck will be working alongside some of the best engineers in their respective fields. We are sure we will gain immensely from this. This will usher in a new era of technical excellence for Goodluck. We look forward to many more such opportunities in future."

Shares of Goodluck India Limited was last trading in BSE at Rs. 294.25 as compared to the previous close of Rs. 280.25. The total number of shares traded during the day was 7498 in over 118 trades.

The stock hit an intraday high of Rs. 294.25 and intraday low of 286.5. The net turnover during the day was Rs. 2192918.

Source : Equity Bulls

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