RVNL shares jump 10% on receiving LoA from Maharashtra Metro Rail Corporation

Rail Vikas Nigam (RVNL) shares jumped 10% on Wednesday to reach the day’s high of Rs 598 on the BSE following the company’s announcement that it received an acceptance letter from Nagpur Metro, the Maharashtra Metro Rail Corporation.

Rail Vikas Nigam Limited (RVNL) saw a 7% increase in its share price during early trading on July 10 after the announcement of winning orders worth Rs 389 crore.

RVNL was up Rs 39.45, or 7.26%, at Rs 582.60 on the BSE at 09:21 am.

Maharashtra Metro Rail Corporation (Nagpur Metro) granted the company a Letter of Acceptance (LoA) for the construction of six elevated metro stations under Reach 2B of NMRP Phase 2. With a total project cost of Rs 187.34 crore, these stations include Cantonment, Kamptee Police Station, Kamptee Municipal Council, Dragon Palace, Golf Club and Kanhan River Metro Station.

As of 11:27 am, RVNL shares were trading 7.35% higher at ₹582.15.

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