RVNL shares gain 2.5% on winning Rs 339-crore Maharashtra Metro Rail contract

RVNL: The contract is worth Rs 339.23 crore and to be executed in 130 weeks.

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The share price of Rail Vikas Nigam Limited (RVNL) rose 2.5 percent in early trade on March 21 after the company bagged a Rs 339-crore contract from Maharashtra Metro Rail Corporation Limited.

At 9:20am, Rail Vikas Nigam was quoting Rs 245.15, up Rs 5.95, or 2.49 percent, on the BSE.

“The company has received the Letter of Acceptance (LOA) from Maharashtra Metro Rail Corporation Limited for design and construction of elevated viaduct between PCMC and NIGDI (Bhakti Shakti) on the North-South Corridor of Pune Metro Rail Project- Reach l -Extension,” the company said in exchange filing.

The contract is worth Rs 339.23 crore and to be executed in 130 weeks.

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Orders Won in March

Last week, the company won two projects worth Rs 386 crore from Central Railway and Maharashtra Metro Rail Corporation Limited.

The company has recently received a letter of award (LoA) from the Himachal Pradesh State Electricity Board for the development of distribution infrastructure in both the North and South zones of the state.

The total cost of the project for the North zone is Rs. 409.65 crore and it is expected to be completed within 24 months. Similarly, the project for the South zone has a total cost of Rs. 888.56 crore and also has to be completed in 24 months.

In addition to these projects, the company has also received another LoA for the supply, installation, testing, and commissioning of 11 KV Line KV-associated works in various districts of MPPKVVCL, Jabalpur Company area. The order is worth Rs 251 crore and also has to be completed in 24 months.

On March 9, the company in a joint venture (JV) with URC received a Letter of Acceptance (LoA) worth Rs 543 crore from Madhya Pradesh Metro Rail Corporation Limited (MPMRCL).

The project is to be completed in 1092 days and the share of RVNL is 51 percent.

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