Shares of Rail Vikas Nigam Ltd. rose 2.93% intra-day on Monday after emerging as the lowest bidder for a metro project of the Maharashtra Metro Rail Corp.
RVNL was found to be the lowest bidder for the design and construction of an elevated metro viaduct of 6.92 km in Reach 2A of the Nagpur Metro Rail Project's Phase 2.
The project cost is Rs 394.9 crore, with a 30-month execution period.
Shares of the company rose 1.61% to Rs 123.10, compared to a 0.1% increase in the benchmark NSE Nifty 50 as of 12:30 p.m.
The relative strength index is at 55.45, implying that the stock is neither overbought, nor oversold.
Out of the two analysts tracking the company, both maintain a 'buy' on the stock, according to Bloomberg data.
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