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

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.Image Source