 "RVNL share price surges 3% after Rs 270 cr order from Maharashtra Metro")
Shares of Rail Vikas Nigam Ltd (RVNL) surged up to 2.57 per cent at 482 per share on the NSE in Tuesday’s intraday deals. This came after the company received a letter of acceptance from Maharashtra Metro Rail Corporation for an order worth Rs 270 crore.
The project includes construction of elevated metro stations for NMRP Phase-2 subsuming seven stations in Reach 3A—Hingna Mount View, Rajiv Nagar, Wanadongri, APMC, Raipur, Hingna Bus Station, and Hingna—and three stations in Reach 4A—Pardi, Kapsi Khurd, and Transport Nagar.
The company in an exchange filing on Monday said that the project will be executed within 30 months.
Last week on December 12, 2024, the rail infrastructure developer had bagged a similar order 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. This deal had a total monetary value of Rs 110 crore and is scheduled to be completed in 18 months.
In Q2FY25, RVNL's profit declined by 27.2 per cent year-on-year (Y-o-Y) to Rs 287 crore, compared to Rs 394.3 crore in Q2FY24. The company’s revenue also saw a slight decrease of over 1 per cent, falling to Rs 4,855 crore in Q2 FY25 from Rs 4,914.3 crore in Q2 FY24. RVNL, a public sector undertaking under the Ministry of Railways, Government of India, was established in 2003 and is dedicated to the development, construction, and implementation of railway infrastructure projects across India.
This includes building new railway lines, station redevelopment, electrification, and signaling. The company plays a crucial role in modernizing and expanding the Indian Railways network, enhancing transport efficiency and safety. As a fully government-owned entity, RVNL is listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), and also prioritizes sustainable development initiatives such as installing solar panels and adopting eco-friendly practices.
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The company has a total market capitalization of Rs 98,621.45 crore. Its shares are trading at a price to earnings multiple of 76.03 times.
At 09:42 AM; the shares of the company were up 0.66 per cent at Rs 473 a piece. By comparison, the NSE Nifty50 was trading 0.44 per cent lower at 24,558.95 level.