RVNL shares to get boost, secures Rs 270 Crore metro station project in Maharashtra

Railway sector PSU, Rail Vikas Nigam Ltd (RVNL) announced that it has obtained a letter of acceptance from Maharashtra Metro Rail Corporation Ltd for the construction of ten elevated metro stations.

The said order is part of the second phase of the Nagpur Metro Rail Project (NMRP).

The deal is worth Rs 270 Crore, including GST, and is expected to be finished within 30 months. The project involves the building of seven elevated metro stations in Reach 3A: Hingna Mount View, Rajiv Nagar, Wanadongri, APMC, Raipur, Hingna Bus Station, and Hingna. The scope also includes three elevated metro stations in Reach 4A, namely Pardi, Kapsi Khurd, and Transport Nagar.

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The company has a total market capitalization of Rs 98,621.45 crore. Its shares are trading at a price-to-earnings multiple of 76.03 times. The shares of the company were up 0.66 percent at Rs 473 a piece. By comparison, the NSE Nifty50 was trading 0.44 percent lower at 24,558.95 level. 

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