Rail Vikas Nigam (RVNL) gained 2.39% to Rs 419.50 after the company emerged as lowest bidder (L-1) for an EPC project from South Eastern Railway worth Rs 191.53 crore.
The scope of the order includes design, supply, erection, testing & commissioning of 132 KV traction substation, sectioning post (SPs), and sub sectioning post (SSPs) in 2x25KV system on Raj khaswan, Nayagarh-Bolani section of Chakradharpur division of South Eastern Railway to meet 3000MT loading target on EPC mode.
The contract received from SER HQ-Electrical/South Eastern Railway is valued at Rs 191.53 crore and the order has to be executed within 18 months.
Rail Vikas Nigam is in the business of executing all types of railway projects including new lines, doubling, gauge conversion, railway electrification, metro projects, workshops, major bridges, construction of cable stayed bridges, institution buildings etc.
The company reported 33.16% increase in consolidated net profit to Rs 478.40 crore in Q4 FY24 as compared with Rs 359.25 crore in Q4 FY23. Revenue from operations jumped 17.38% year on year (YoY) to Rs 6,714.01 crore in the fourth quarter of FY24.
The scrip hit an all-time high at Rs 432 in intraday session today.
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