Rail Vikas Nigam jumped 6.84% to Rs 377.45 after the company said that it has received letter of acceptance (LoA) from Eastern Railway for a project worth Rs 390.97 crore.
The project involves 'construction of Sitarampur bye pass line under Asansol Division of Eastern Railway. The said contract has to be executed within a period of 24 months.
Separately, just before market close on Wednesday (June 5), RVNL had informed that it has emerges as the lowest bidder (L1) for a project floated by Dakshin Haryana Bijli Vitran Nigam.
The contract is for 'implementation of SCADA and DMS/OMS works in Gurugram Revamped Distribution Sector Scheme (RDSS) in DHBVN (Dakshin Haryana Bijli Vitran Nigam).
The cost of the said project is Rs 124.36 crore and it has to be executed within a period of 30 months.
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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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