Kalindee Rail up 6.74% on L&T stake hike

MUMBAI: Shares of Kalindee Rail Nirman Engineers Ltd surged more than 6% after capital goods giant Larsen & Toubro increased its stake in the company on Monday.

The stock was trading at Rs 93.40, up 6.74 % but with lower participation from market participants.

So far in trade, the stock has touched a high of Rs 95 and low of Rs 89 on BSE.

L&T prior to this had a stake of 13.93% in Kalindee Rail and post yesterday���s trade the company has raised the stake to 14.5%.

Kalindee Rail is expected to get orders worth Rs 500 crores from the Indian Railways in next few years.