Rail Vikas Nigam Limited (RVNL) surged 6.93% to Rs 447.75 after it signed a memorandum of understanding (MoU) with Delhi Metro Rail Corporation (DMRC) to collaborate on upcoming projects in India and abroad.
Under this MoU, RVNL will act as project service provider for metro/ railways/ high speed rail/ highways/ megabridges/ tunnels/ institutional buildings/ workshops or depots/ S&T works/ railway electrification.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.
The counter hit an all-time high of Rs 455 in today's intra-day session.
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