RVNL rises 4% on Rs 2,326-crore Chennai metro project win

The share touched a 52-week high of Rs 144.50 on May 8, 2023 and a 52-week low of Rs 29 on June 21, 2022

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Rail Vikas Nigam (RVNL) share price rose 4 percent in the early trade on June 21 after the company received three letters of acceptance (LoAs) from Chennai Metro Rail Limited (CMRL) for various underground stations.

Chennai Metro has awarded RVNL the construction of five underground stations at KMC (Kilpauk), Sterling Road JN, Nungambakkam, Gemlni (Anna Flyover), Thousand Lights and Thousand Lights crossover box and works of two underground stations at Royapettah government hospital (Roy Apettah) & Chetpet Metro

The order value is Rs 1,730.59 crore and to be executed in 1,725 days.

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The second order is for the construction of three underground stations at Adyar Depot, Indira Nagar and Taramani Road Junction (Taramani) as well as ramp and other works at Thiruv Anmiyur.  This order is valued at Rs 865.62 crore and to be executed in 1,630 days.

The third order is for the construction of four underground stations at Dr Radhakrishnan Salai, Thiruma Yilai, Mandaneli, and Adyar Junction and two cross passage shafts and one emergency escape shaft and other works at one underground station at Greenways Road. The order value is Rs 1,461.97 crore and to be done in 1,725 days.

At 9.20 am, Rail Vikas Nigam was quoting at Rs 126.10, up Rs 3.55, or 2.90 percent on the BSE. The share touched a 52-week high of Rs 144.50 on May 8, 2023 and a 52-week low of Rs 29 on June 21, 2022. It is trading 12.73 percent below its 52-week high and 334.83 percent above its 52-week low.

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