BLITZ BUREAU
NEW DELHI: The shares of Rail Vikas Nigam Limited (RVNL) surged 10.1 per cent to Rs 598 on the BSE in July 10’s intraday trade. The rally in RVNL share price on July 10 comes after RVNL won a contract worth Rs 187 crore from Maharashtra Metro Rail Corporation (Nagpur Metro).
At 09:29 AM, RVNL share price was 6 per cent higher at Rs 577.85 as compared to 0.13 per cent decline in the BSE Sensex. The stock had hit a record high of Rs 620 on Tuesday, July 9.
The market price of RVNL has zoomed 88 per cent from its previous month’s low of Rs 312, touched on June 5. Besides, thus far in the calendar year 2024, RVNL share price has skyrocketed 223 per cent as compared to 11 per cent rise in the benchmark index.
In an exchange filing on July 10, VNL said it has received Letter of Acceptance (LoA) from Maharashtra Metro Rail Corporation (Nagpur Metro) for the construction of six elevated metro stations namely Cantonment, Kamptee Police Station, Kamptee Municipal Council, Dragon Palace, Golf Club, and Kanhan River Metro Station. The company said the project cost is Rs 187.34 crore and the order would be executed over 30 months.Meanwhile, in an another filing to the stock exchanges, RVNL said it has signed MoU with TATWEER Middle East and Africa LLC for using RVNL’s expertise in railway sector, developing joint capabilities in design, and execution of various rail-based work in MENA region and European countries. RVNL would also supply, design, and help in implementation and commissioning of smart city, digital transformation and professional engineering services.
