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Rail Vikas Nigam rallies after securing contract for Indore Metro

Capital Market 

Rail Vikas Nigam jumped 3.32% to Rs 31.10 after the PSU company bagged Rs 1,035 crore order for Indore Metro Rail project from Madhya Pradesh Metro Rail Corporation.

The scope of the order is designing and construction of elevated viaduct connecting depot leading up to interface location, nine elevated metro rail stations including all civil, structural, roof structure, mechanical, electrical and plumbing (MEP) works, architectural finishes, fade and entry / exits within the stations.

Rail Vikas Nigam is an organization associated with Indian Railways involved in building rail infrastructure required by the railways. As of 30 June 2021, the Government held 78.2% stake in the company.

On a consolidated basis, the company posted a 64% jump in net profit to Rs 232 crore on a 32.9% rise in net sales to Rs 3,869 crore in Q1 FY22 over Q1 FY21.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Mon, September 20 2021. 14:25 IST