Rail Vikas Nigam share price edged higher in the afternoon session on January 11 after the firm bagged a Rs 1,134.1-crore Chennai Metro Rail project.
Rail Vikas Nigam Limited (RVNL) has received a letter of approval (LoA) on January 10, 2023 for the construction of an elevated viaduct (approximate length of 10 kilometers), nine elevated metro stations and a stabling viaduct, the company said in an exchange filing. "The accepted contract amount is Rs 1,134.1 crore," it added.
At 2.11 pm, Rail Vikas Nigam was quoting at Rs 71.65, up Rs 1.30, or 1.85 percent, on BSE. It touched an intraday high of Rs 72.70 and an intraday low of Rs 70.30.
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In the September quarter of FY23, the company's consolidated net profit jumped 36.5 percent to Rs 381.22 crore on a 21.9 percent rise in net sales to Rs 4,908.90 crore over Q2 FY22.
RVNL is engaged in the business of implementing rail infrastructure projects assigned by the ministry of railways, including doubling, gauge conversion, new lines, electrification, major bridges, workshops, production units, and sharing of freight revenue with the railways.
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