 "RVNL secures Rs 111-crore project from Southern Railway; shares gain 2%")
RVNL shares rise: Shares of Rail Vikas Nigam Limited (RVNL) rose as much as 1.78 per cent to hit an intraday high of Rs 586.80 per share on Tuesday, August 27, 2024.
The uptick in the RVNL share price rose after the company said that it has emerged as the lowest bidder (L-1) for a project worth Rs 1,11,38,95,411.60 ( approximately Rs 111.39 crore)
In an exchange filing, RVNL said, “It is hereby informed that Rail Vikas Nigam Limited emerges as the Lowest Bidder (L1) from Southern Railway for provision of MSDAC with existing DCTC at Stations (to serve as dual detection) and replacing balance AFTCs in MAS- GDR & MSB-TBM automatic block signalling sections of Chennai Division in Southern Railway.”
Under the terms of the order, RVNL will be responsible for equipping MSDAC with the existing DCTC at stations for dual detection and for replacing the remaining AFTCs in the automatic block signalling sections of Chennai division in Southern Railway, specifically between MAS-GDR and MSB-TBM.
Rail Vikas Nigam Limited is a company based in New Delhi, specialising in the construction of rail infrastructure projects across the country. Established in 2003, the company is actively involved in the development and implementation of various railway projects, including new lines, doubling, gauge conversion, railway electrification, workshops, metro projects, bridges, construction of cable-stayed bridges, and institution buildings.
Additionally, it offers financial resource mobilisation services to support its projects. Rail Vikas Nigam Limited caters to clients such as Indian Railways, central and state government ministries, departments, and public sector undertakings.
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Financial performance
The state-owned company's consolidated net profit dropped 35 per cent to Rs 223.9 crore during the June quarter of FY25, mainly on account of reduced income. It had reported a net profit of Rs 343.09 crore in the same quarter last year (Q1FY24).
The company's total income decreased to Rs 4,336.75 crore in the June quarter of financial year 2025, from Rs 5,853.18 crore in the year-ago quarter.
The market capitalisation of RVNL is Rs 1,20,816.49 crore, according to Bombay Stock Exchange (BSE). The company falls under the BSE200 category.
At 12:00 PM, shares of RVNL were trading 0.51 per cent higher at Rs 579.45 per share. In comparison, BSE Sensex was trading 0.11 per cent higher at 81,787.12 levels.