RVNL Rallies 7% On Signing MoU With Airports Authority of India – News18

Rail Vikas Nigam (RVNL) shares gained 7 per cent in the early trade to Rs 267.8 in Tuesday’s intraday trade on BSE after the firm signed an MoU with the Airports Authority of India (AAI).

“RVNL has signed MoU with Airports Authority of India (AAI) for construction of subway/underpass to connect the operational area to the Airport Authority of India residential colony in Kolkata,” the company said in an exchange filing.

On March 20, the company bagged a Rs 339-crore contract from Maharashtra Metro Rail Corporation Limited.

“The company has received the Letter of Acceptance (LOA) from Maharashtra Metro Rail Corporation Limited for design and construction of elevated viaduct between PCMC and NIGDI (Bhakti Shakti) on the North-South Corridor of Pune Metro Rail Project- Reach l -Extension,” the company said in exchange filing.

Earlier in March, RVNL won two projects worth Rs 386 crore from Central Railway and Maharashtra Metro Rail Corporation Limited.

The company has recently received a letter of award (LoA) from the Himachal Pradesh State Electricity Board for the development of distribution infrastructure in both north and south zones of the state.

The total cost of the project for the north zone is Rs 409.65 crore and it is expected to be completed within 24 months. The south zone project has a total cost of Rs. 888.56 crore and also has to be completed in 24 months.