Rail Vikas Nigam: RVNL shares in focus as PSU bags Rs 543 crore Madhya Pradesh Metro Rail order

Rail Vikas Nigam Lid (RVNL) shares will be in focus on Monday after the PSU railway firm said it has received a Letter of Acceptance (LoA) from Madhya Pradesh Metro Rail Corporation Limited (MPMRCL) for part design and construction of elevated viaduct, elevated metro rail stations namely Shaheed Bagh, Khajrana Chauraha, Bengali Chauraha, Patrakar Colony and Palasia Chauraha, in addition to making ramp for Indore Metro Rail Project.

The total order size is Rs 543 crore and the order will take 1092 days to be executed. RVNL has 51 per cent stake; the rest 49 per cent is with URC. RVNL shares are up 30 per cent in 2024 so far. The multibagger stock is up 272 per cent in the last one year.

Last week, RVNL said it received LoA from Himachal Pradesh State Electricity Board Ltd for the development of distribution infrastructure at South Zone of Himachal Pradesh under the revamped reforms based and results-linked, distribution sector scheme. That order was worth Rs 888.56 crore. It also won LoA for the North Zone distribution infrastructure worth Rs 409.65 crore.

Besides, RVNL received LOA for supply, installation, testing and commissioning of 11 KV Line associated works such as 11 KV Line Bifurcation, 11 KV line Interconnection, 11 KV Line conductor Augmentation, LT AB cabling augmentation and conversion of LT Bare conductor to AB cabling under revamped reforms-based and results-linked, Distribution sector (Package-11) in Jabalpur (City), Jabalpur (O&M), Katni, Mandla, Dindori, Seoni, Chhindwara, Narsinghpur, Balaghat, Shahdol, Anuppur and Umariya Circles of MPPKVVCL, Jabalpur Company area.