The share price of Rail Vikas Nigam (RVNL) increased by 4% in early trade on June 21 after the business obtained three letters of acceptance (LoAs) from Chennai Metro Rail Limited (CMRL) for various underground stations.
RVNL has been awarded the construction of five underground stations at KMC (Kilpauk), Sterling Road JN, Nungambakkam, Gemlni (Anna Flyover), Thousand Lights and Thousand Lights crossover box, as well as the construction of two underground stations at Royapettah government hospital (Roy Apettah) and Chetpet Metro. The deal is worth Rs 1,730.59 crore and will be completed in 1725 days.
The second contract is for the building of three underground stations in Adyar Depot, Indira Nagar, and Taramani Road Junction (Taramani), as well as a ramp and other works in Thiruv Anmiyur. This order is worth Rs 865.62 crore and will be completed in 1,630 days.
The third order calls for the building of four underground stations at Dr Radhakrishnan Salai, Thiruma Yilai, Mandaneli, and Adyar Junction, as well as two cross passage shafts and one emergency escape shaft, as well as other work at one underground station at Greenways Road. The order is worth Rs 1,461.97 crore and would be completed in 1725 days.
Rail Vikas Nigam was trading at Rs 126.10 on the BSE at 9:20 a.m., up Rs 3.55, or 2.90 percent. On May 8, 2023, the share reached a 52-week high of Rs 144.50 and a 52-week low of Rs 29 on June 21, 2022. It is currently trading 12.73 percent lower than its 52-week high and 334.83 percent higher than its 52-week low.
