RVNL jumps 3.32% after MPMRCL awards Rs 1.035 cr for Indore Metro

22 Sep 2021 CW Team

Rail Vikas Nigam Limited (RVNL) rose 3.32% to Rs 31.10 after Madhya Pradesh Metro Rail Corporation Limited (MPMRCL) awarded the Public Sector Undertaking company a Rs 1,035 crore order for the Indore Metro Rail project.

The order covers the design and construction of an elevated viaduct connecting a depot to an interface location, as well as the civil, structural, roof structure, mechanical, electrical, and plumbing (MEP) works, architectural finishes, fade, and entry/exit points within the stations.

Rail Vikas Nigam under the Indian Railways, is responsible for the construction of rail infrastructure required by the railways. The government owned 78.2% of the company as of June 30.

On a consolidated basis, the company reported a 64% increase in net profit to Rs 232 crore in Q1 FY22 over Q1 FY21, owing to a 32.9% increase in net sales to Rs 3,869 crore.

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