Rail Vikas Nigam’s stock rose in the afternoon session after the company was awarded a Rs 1,134.1-crore Chennai Metro Rail project. Rail Vikas Nigam Limited (RVNL) announced in an exchange filing that it has received a letter of approval (LoA) for the construction of an elevated viaduct (approximate length of 10 kilometres), nine elevated metro stations, and a stabling viaduct. “The contract amount accepted is Rs 1,134.1 crore,” it added.
RVNL is in the business of completing rail infrastructure projects assigned by the railway ministry, such as doubling, gauge conversion, new lines, electrification, major bridges, workshops, production units, and freight revenue sharing with the railways.