Rail Vikas Nigam bags new order worth ~Rs 198.93 crore from GMRC; stock trades ~5% lower

23 Dec 2022 , 11:32 AM

Rail Vikas Nigam Limited (RVNL) has been awarded contract for construction of Bhesan Depot cum workshop. This includes DDC, BCC and associated E&M works under Corridor- C2, Bhesan to Saroli, for Surat Metro Rail Project Phase- I, DC 2 by Gujarat Metro Rail Corporation (GMRC) Limited. It is a SPV of the Governments of India and Gujarat.

The company stated that the total cost of the project is Rs198.93 crore, exclusive of taxes, duties and provisional sum.

The company expects to complete the project within a period of 20 months.

At around 11.28 AM, Rail Vikas Nigam was trading 4.97% lower at Rs63.15, against previous close of Rs66.45 on NSE. The counter hit an intraday high and low of Rs66.45 and Rs63.15 respectively.

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