Rail Vikas Nigam Ltd (RVNL) shares jumped over 8% following news of their joint venture securing a contract from the Madhya Pradesh Metro Rail Corp.
The contract, worth ₹543 crore, involves designing and constructing an elevated viaduct for five metro stations in Indore. RVNL, holding a 51% stake in the joint venture, emerged as the lowest bidder for the project. Despite a slight dip in quarterly profit, RVNL's shares have surged over 35% this year and boast a one-year return of over 285%.