CHENNAI (Metro Rail News): On January 11, Rail Vikas Nigam Limited (RVNL) saw its share price edge higher during the afternoon session following their announcement of being awarded a Rs 1,134.1-crore Chennai Metro Rail project.
This project includes the construction of an elevated viaduct (approximate length of 10 kilometers), nine elevated metro stations and a stabling viaduct. As of 2.11 pm, RVNL was trading at Rs 71.65, up Rs 1.30, or 1.85 percent, on BSE. It touched an intraday high of Rs 72.70 and an intraday low of Rs 70.30.
RVNL, which is engaged in the business of implementing rail infrastructure projects assigned by the Ministry of Railways, such as doubling, gauge conversion, new lines, electrification, major bridges, workshops, production units, and sharing of freight revenue with the railways, saw a 36.5 percent jump in its consolidated net profit to Rs 381.22 crore in the September quarter of FY23, on the back of a 21.9 percent rise in net sales to Rs 4,908.90 crore compared to Q2 FY22.
