DMRC terminates contract of Ceigall India Ltd

Delhi Metro Rail Corporation Limited, vide its letter dated July 25, 2025, has issued a Notice of Termination for the said project/contract.

The company had earlier in 2024 received the of Letter of Acceptance (LoA) dated August 14, 2024, for the Bhubaneswar Metro Rail Project - pertaining to part design and construction of the elevated viaduct and six elevated stations viz. Nandan Vihar, Raghunathpur, Nandankanan Zoological Park, Barang Station, Phulapokhari, and Trisulia Square (excluding architectural finishing) from Chainage 15095.240 M to 26052.770 M and including the Ramp for Depot entry under Bhubaneswar Metro Phase-I MRTS, with a Bid Project Cost of ₹898.99 crore.

The Employer has scrapped the Project. Ceigall India Limited will be approaching for damages / claims / compensation as per remedies available under Contract agreement and other legal recourse.

Shares of Ceigall India Limited was last trading in BSE at Rs. 265.75 as compared to the previous close of Rs. 264.35. The total number of shares traded during the day was 15386 in over 475 trades.

The stock hit an intraday high of Rs. 267.65 and intraday low of 261.00. The net turnover during the day was Rs. 4071092.00.

Source : Equity Bulls

Keywords

INE0AG901020 CeigallIndia CivilConstruction DMRC TerminationNotice Project Contract