HomeMarket NewsStocks NewsRail Vikas Nigam shares surge after Rs 1,134 crore Chennai Metro order win

Rail Vikas Nigam shares surge after Rs 1,134 crore Chennai Metro order win

Chennai Metro Rail has awarded an LOA for the construction of an elevated viaduct of approximately 10 km and nine elevated metro stations.

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By CNBCTV18.com January 11, 2023, 2:59:11 PM IST (Published)

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Rail Vikas Nigam shares surge after Rs 1,134 crore Chennai Metro order win



Rail Vikas Nigam Ltd. (RVNL) gained nearly 3 percent in intraday trade on Wednesday after the company announced that it received a Letter of Acceptance (LOA) from Chennai Metro Rail Ltd. on January 10 for a total contract amount of Rs 1,134.11 crore.


The Indian Railways’ infrastructure development arm informed the bourses on Wednesday that Chennai Metro Rail has awarded the company an LOA for the construction of an elevated viaduct of approximately 10 km, nine elevated metro stations, and the stabling of a viaduct at SIPCOT.

As per the contract, the construction work includes nine elevated metro stations at Sholinganallur Lake-I, Sri Ponniamman Temple (Sholinganallur Lake-II), Sathyabama University (Semmeancheri-I), Semmeancheri-II, Gandhi Nagar, Navallur, Siruseri, Siruseri SIPCOT-l, and the stabling of a viaduct at Siruseri SIPCOT-2.

Last week, RVNL received an order worth Rs 166.26 crore from Gujarat Metro Rail Corporation for the Surat Metro Rail project.

In December 2022, RVNL was also selected as the implementation agency for the UTF Harbor Project in Maldives. The Rs 1,544.60 crore project was awarded by the Ministry of External Affairs.

Shares of RVNL are trading 2.77 percent higher at Rs 72.30.

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