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RVNL share price soars: Shares of Rail Vikas Nigam Limited (RVNL) soared as much as 3.57 per cent to hit an intraday high of Rs 382 per share on Friday.
The surge came after the company secured an order worth Rs 495 crore from National Thermal Power Corporation (NTPC).
In an exchange filing, RVNL said, “It is hereby informed that Rail Vikas Nigam Limited has received Letter of Award from National Thermal Power Corporation (NTPC) for Project Execution Agency (PEA) contract for execution of Balance Civil & HM works of Barrage Complex including part HRT package of Rammam Hydro Electric Project Stage-III (3x40 MW).”
Under the terms of contract, RVNL will be responsible for execution of balance civil & HM works of barrage complex including part HRT package of Rammam hydro electric project stage-III (3x40 MW).
The project is expected to be completed within 66 months. The project is worth Rs 495,14,16,130.68 crore.
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Rail Vikas Nigam Limited is a company based in New Delhi, specialising in the construction of rail infrastructure projects across the country. Established in 2003, the company is actively involved in the development and implementation of various railway projects, including new lines, doubling, gauge conversion, railway electrification, workshops, metro projects, bridges, construction of cable-stayed bridges, and institution buildings.
Additionally, it offers financial resource mobilisation services to support its projects. Rail Vikas Nigam Limited caters to clients such as Indian Railways, central and state government ministries, departments, and public sector undertakings.
Financial performance
State-owned company profit rose 33.2 per cent year-on-year (Y-o-Y) to Rs 478.6 crore for the fourth quarter that ended March 31, 2024, from Rs 359 crore in the same quarter a year ago (Q4FY23).
RVNL’s revenue increased 17.4 per cent to Rs 6,714 crore, as opposed to Rs 5,719.8 crore in Q4FY23. The Ebitda margin, meanwhile, came in at 6.8 per cent in Q4FY24.
The board also recommended a final dividend of Rs 2.11 per share for financial year 24.
The market capitalisation of RVNL is Rs 78,209.10 crore. The 52-week high of the stock is Rs 424.95 while its 52-week low is Rs 116.15.
At 10:02 AM, shares of RVNL were trading 1.42 per cent higher at Rs 374.05 per share. By comparison, BSE Sensex was trading 0.68 per cent higher at 75,586.65 levels.
