Rail Vikas Nigam (RVNL) added 1.30% to Rs 614.55 after the company said that it has emerged as the lowest bidder (L1) for a tender floated by Himachal Pradesh State Electricity Board (HPSEBL).
The project involves 'development of distribution infrastructure at Central Zone of Himachal Pradesh under the Revamped Reforms-based and Results-linked, Distribution Sector Scheme'.
RVNL will have 24 months to complete this project. The total value of the aforementioned contract is Rs 739.07 crore.
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 on 17.38% jump in revenue from operations to Rs 6,714.01 crore in Q4 FY24 over Q4 FY23.
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