Railway Vikas Nigam Limited (RVNL) shares surged over 6 percent to Rs 265 each in Tuesday’s intraday trade after RVNL’s announcement on March 22 regarding the signing of a Memorandum of Understanding (MoU) with the Airports Authority of India (AAI). The agreement aims to construct an underpass connecting the operational area to the AAI residential colony in Kolkata, with the project expected to cost Rs 229.43 crore.
The purpose: to pursue the construction of an underpass from operational area to residential colony of AAI (Airports Authority of India)—costing roughly Rs 229. 43 crore.
As of 12:07 pm the shares were trading at ₹264.75, 6.02% higher on NSE.
Additionally, RVNL secured a contract on March 21 as the lowest bidder to build and install mainline electric traction system for Rajkharsawan-Nayagarh-Bolani section of South Eastern Railway’s Chakradharpur Division. This project will have an estimated cost of Rs 167. 28 crores.
