RVNL shares surge after securing Pune Metro project worth Rs 339.2 crore

RVNL received a letter of acceptance (LOA) from Maharashtra Metro Rail Corporation Ltd for a project valued at Rs. 339.2 crore. 

Rail Vikas Nigam Ltd witnessed gain in its shares in the early trading hours after the company announced the crucial information – On March 15, 2024, RVNL received a letter of acceptance (LOA) from Maharashtra Metro Rail Corporation Ltd for a project valued at Rs. 339.2 crore.

RVNL informed in its press release on 15 th March 2024 that it has received a letter of acceptance from Maharashtra Metro Rail Corporation Ltd where the letter accepts a project of Rs339.2cr. The project involves the design and construction of an elevated viaduct of 4.519km length between PCMC and NIGDI on the North-South corridor line of Pune Metro Rail Project. RVNL stated it will do the project speedily as it should be completed within 130 weeks.

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This milestone underscores RVNL’s pivotal role in advancing infrastructure development, particularly in the realm of urban transportation. The Pune Metro Rail Project holds significant promise for enhancing connectivity and easing commuting challenges in the region.

As of 10:35 am, RVNL shares were trading 0.55% higher at ₹246.90