Rail Vikas Nigam rose 2.35% to Rs 72 after the company said it received letter of award (LoA) from Chennai Metro Rail for construction of elevated viaduct of 10 km and nine elevated metro station.
The accepted contract amount is Rs. 1134.11 crore. The order entails construction of elevated viaduct (of about 10 km) and nine elevated metro stations and stabling viaduct at SIPCOT. The said order is to be executed within 1065 days.Rail Vikas Nigam is engaged in the business of implementing various types of Rail infrastructure projects assigned by MoR including doubling (including 3rd/4th lines), gauge conversion, new lines, railway electrification, major bridges, workshops, production units and sharing of freight revenue with Railways as per the concession agreement entered into with Ministry of Railway.
The company's consolidated net profit jumped 36.5% to Rs 381.22 crore on 21.9% rise in net sales to Rs 4,908.90 crore in Q2 FY23 over Q2 FY22.
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