RVNL gets new Rs 38 crore project

30 May 2024 , 12:37 PM

 

Rail Vikas Nigam Limited (RVNL) has secured a new project valued at ₹38.10 Crore from South East Central Railway. As a result of the project win, RVNL shares experienced a 2% rise in early trading today, May 30.

At the time of writing, the shares were trading at ₹381.15 which is a 1.44% gain than the previous close. The stock has gained a total of 229% in the last one year, and 109% since the beginning of the year. On May 27, 2024, RVNL shares reached a 52-week high of ₹399.70, and on May 31, 2023, they reached a 52-week low of ₹110.50.

RVNL received a Letter of Acceptance from South East Central Railway for a project involving auto signalling with electronic interlocking between Champa and Sakti sections, including various installation and construction works. The project, costing ₹38.10 Crore, is to be completed within 15 months.

Earlier in May, RVNL won a ₹148 Crore contract from South Eastern Railway for upgrading the electric traction system in the Kharagpur division.

RVNL also became the lowest bidder for a Maharashtra Metro Rail Corporation project, involving the construction of six elevated metro stations in Nagpur. This project is valued at ₹187.34 Crore and is expected to be completed in 30 months.

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