Rail Vikas Nigam Limited (RVNL) experienced a 5% rise in its share price during early trade on March 11, following the company’s receipt of significant work orders amounting to Rs 1,826.14 crore.
At 9:25 am, RVNL was trading at Rs 250.90 on the BSE, marking a notable increase of Rs 12.90 or 5.42%.
The company was awarded a letter of award (LoA) by the Himachal Pradesh State Electricity Board for the development of distribution infrastructure in the North Zone of the state. This project falls under the revamped reforms-based and results-linked distribution sector scheme, focusing on loss reduction works.
The total project cost is estimated at Rs 409.65 crore, with a stipulated completion timeframe of 24 months.
Adding to its recent successes, Rail Vikas Nigam Limited (RVNL) has been awarded another significant project, this time for the South Zone of Himachal Pradesh. The project, valued at Rs 888.56 crore, is slated to be completed within 24 months, mirroring the timeframe of the company’s previous endeavors.
Moreover, RVNL has also clinched a Letter of Award (LoA) for a project involving the supply, installation, testing, and commissioning of 11 KV Line associated works across various locations in the MPPKVVCL, Jabalpur Company area. Valued at Rs 251 crore, this project is part of the Revamped Reforms-based and Results-linked Distribution sector and is scheduled to be executed within 24 months.
Additionally, on March 9, RVNL, in a joint venture (JV) with URC, secured a Letter of Acceptance (LoA) worth Rs 543 crore from the Madhya Pradesh Metro Rail Corporation Limited (MPMRCL). The project entails the design and construction of elevated viaducts, five elevated Metro Rail Stations, and ramps as part of the Indore Metro Rail Project. With an overall project cost of Rs 1,092 crore, RVNL’s share in this venture stands at 51 percent.
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