RVNL share price jumps over 8% on winning multiple projects of Rs 2,092 crore

economictimes.indiatimes.com:

Rail Vikas Nigam (RVNL) jumped 8.2% to Rs 257.5 in Monday's intraday trade on BSE after the company bagged four orders worth Rs 2,092 crore.

On March 9, the company in a joint venture (JV) with URC received a Letter of Acceptance (LoA) worth Rs 543 crore from Madhya Pradesh Metro Rail Corporation Limited (MPMRCL).

The project is for part design and construction of elevated viaduct, 5 elevated Metro Rail Stations (viz. Shaheed Bagh, Khajrana Chauraha, Bengali Chauraha, Patrakar Colony & Palasia Chauraha) and Ramp between Chainages 31+755 to 34+898.061 & 3+669.547 to 5+862 for Indore Metro Rail Project, to be completed in 1092 days. The share of RVNL is 51% and URC 49%.

The company also received the letter of award (LoA) from the Himachal Pradesh State Electricity Board for the development of distribution infrastructure at the North Zone of the state under the revamped reforms-based and results-linked distribution sector scheme (loss reduction works). The total cost of the project is pegged at Rs 409.65 crore and it has to be completed in 24 months.

The firm received a similar order for the south zone of Himachal Pradesh. The total cost of the project is Rs 888.56 crore and is to be executed in 24 months.

The company also received the LoA for supply, installation, testing and commissioning of 11 KV Line associated works such as 11 KV Line Bifurcation, 11 KV line Interconnection, 11 KV Line conductor Augmentation, LT AB cabling augmentation and conversion of LT Bare conductor to AB cabling under Revamped