Rail Vikas Nigam (RVNL) rallied 3.32% to Rs 402.95 after the company has emerged as lowest bidder (L-1) from East Coast Railway for installing automatic block signaling system in Odisha.
The project involves installing an automatic block signaling system with dual mobile train supervision system (MSDAC) and alterations to existing electrical interlocking (El), panel interlocking (Pl), and route relay interlocking (RRI) stations in the Jakhapura-Nergundi, Khurda Road-Bhusundpur, and Bhusundpur-Golanthra sections of the Khurda Road Division.The said order is worth Rs 160.08 crore and it will be executed within 24 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.
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