Rail Vikas Nigam's (RVNL) share price surged 7 percent in the opening trade on July 10 on winning orders worth Rs 389 crore.
Rail Vikas Nigam Limited (RVNL) witnessed a 7% surge in its share price during early trade on July 10 following the announcement of winning orders worth Rs 389 crore.
As of 09:21 am, RVNL was trading at Rs 582.60 on the BSE, up by Rs 39.45 or 7.26%.
The company secured a Letter of Acceptance (LoA) from Maharashtra Metro Rail Corporation (Nagpur Metro) for constructing 6 elevated metro stations under Reach 2B of NMRP Phase 2. These stations include Cantonment, Kamptee Police Station, Kamptee Municipal Council, Dragon Palace, Golf Club, and Kanhan River Metro Station, with a total project cost of Rs 187.34 crore. The project is scheduled to be completed in 30 months.
Additionally, RVNL emerged as the lowest bidder (L1) from South Eastern Railway for the design, supply, erection, testing, and commissioning of a 132 KV traction substation, sectioning post (SPs), and sub-sectioning post (SSPs) on the Kharagpur - Bhadrak section of Kharagpur division of South Eastern Railway. The project, costing Rs 202.87 crore, is slated for completion in 18 months.
In another development, the company signed an MoU with TATWEER Middle East and Africa LLC for using RVNL’s expertise in the Railway Sector, developing joint capabilities in the design and execution of various Rail based work in the MENA region and European countries, and also for supply, design, implementation, and commissioning of smart city, digital transformation, and professional engineering services.
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