RVNL shares dip 4% despite Maharashtra Metro project acceptance. RVNL secures a Letter of Acceptance from Maharashtra Metro Rail for 6.92 km elevated metro viaduct of length 6.92 km. Project cost: Rs 394.89 crore, to be completed in 30 months.
Additional projects awarded by Maharashtra Metro Rail to RVNL. Projects include elevated metro stations, at-grade stations, formation work, and more. Total cost of additional projects is Rs 256.19 crore, and are to be completed in 30 months. RVNL wins bid for Rs 444.26 crore Himachal Pradesh distribution infrastructure project. Execution timeline: 24 months for Himachal Pradesh project.
At the time of writing the RVNL share was trading at Rs 163 which is a 4.15% dip from the previous day’s close.
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