Rail Vikas Nigam (RVNL) has received three letters of acceptance from Chennai Metro Rail for various underground stations. The orders are valued at INR 3,058.20 Crore ($412m), and the projects will be completed in a span of up to five years. The share price of the PSU rose over 4% on BSE following the announcement of the orders. Analysts remain bullish on the stock, and the consensus recommendation from one is a strong buy, with an average target price showing an upside potential of 5% from current market prices.
L&T to build Chennai Metro s 12-km underground stretch at Corridor-III in 52 months
The tender to construct 12 km twin bored tunnels from Kellys to Taramani Road Junction also involves construction of diaphragm walls of station box and entry and exit structures of various stations.
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CHENNAI: Tenders are being finalised for the third and fourth corridor of Chennai Metro Rail with Larsen and Toubro planning to complete the 12 km underground stretch from Kellys Station to Taramani Road junction in approximately 52 months. Both the tenders are worth between Rs 2,500 to Rs 5,000 crore, spokesperson said.
L&T Construction bags large contracts including Chennai Metro for its Heavy Civil Infrastructure Business equitybulls.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from equitybulls.com Daily Mail and Mail on Sunday newspapers.