RVNL share price: State-owned Rail Vikas Nigam Limited (RVNL) shares were in demand on Thursday, November 7, 2024 as the scrip soared up to 3.68 per cent to hit an intraday high of Rs 486.90 per share.
The RVNL share price rose after the company announced that it has secured a letter of acceptance (LoA) for an order worth over Rs 180 crore from East Central Railway.
RVNL, via an exchange filing said, “it is hereby informed that Rail Vikas Nigam Limited has received Letter of Acceptance from East Central Railway for “Design, Supply, Erection, Testing and Commissioning of 2x25KV feeder line along the track with 25KV OHE modification works to meet 3000 MT loading target for UP & DN line of Garwa Road -Mahadiya Section of Dhanbad Division under E.C. Railway (Total 229/458 RKM/TKM) (Tender No: EL-Proj-DNR-ETEN-04-23-24).”
Under the terms of the order, RVNL is tasked with the design, supply, erection, testing, and commissioning of a 2x25KV feeder line along the track, along with modifications to the 25KV overhead electrification (OHE) system. This is to meet the 3000 MT loading requirement for both the UP and DOWN lines of the Garwa Road-Mahadiya section in the Dhanbad Division of East Central Railway. The total scope involves 229 RKM (Route Kilometre) / 458 TKM (Track Kilometre).
The exact cost of the project is Rs 180,00,96,810.08, and it is expected to be completed in 18 months.
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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.
The market capitalisation of RVNL is Rs 1,00,195.64 crore, according to BSE. The company falls under the BSE 200 category.
At 9:58 AM, shares of RVNL were trading 2.19 per cent higher at Rs 479.90 per share. In comparison, BSE Sensex was trading 0.55 per cent lower at 79,933.09 levels.