RVNL climbs to new 52-week high as it emerges as lowest bidder for Rs 251 crore project

16 Jan 2024 , 12:50 PM

Rail Vikas Nigam Limited (RVNL), a Navratna CPSE under the Ministry of Railways, Government of India, saw its shares rise more than 5% to a 52-week high on Tuesday (January 16). The stock began with a 2.02% rise today and went on to achieve an intra-day high of Rs 231.80.

At around 11.31 AM, RVNL was trading 3.26% higher at Rs 227.85, against the previous close of Rs 220.65 on NSE.

MP Madhya Kshetra Vidyut Vitran Co.’s order covers the delivery, installation, testing, and commissioning of 11 kV line-related operations, according to an exchange filing on Monday.

The construction business estimates that the work, which involves line bifurcation, connections, and conductor augmentation, will take two years to complete.

RVNL is a Public Sector Undertaking responsible for developing, funding, and implementing rail infrastructure projects. Mobilise financial and human resources for project execution.

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