RVNL rises after JV bags LoA for contract worth Rs. 560 crore.

Rail Vikas Nigam advanced 3.24% to Rs. 33.45 after the company said that its joint venture RVNL-Bhartia has been awarded a letter of acceptance (LoA) by the Northeast Frontier Railway for construction of single line BG tunnel.

The total estimated cost of the project is Rs. 560.26 crore.

Rail Vikas Nigam is in the business of executing all types of railway projects including new lines, doubling, gauge conversion, railway electrification, metro projects, workshops, major bridges, construction of cable stayed bridges, institution buildings etc. As of 31 March 2022, the Government held 78.2% stake in the company.

BS