RVNL share price: Rail Vikas Nigam (RVNL) experienced a 6 percent surge in its share price, reaching a 52-week high of Rs 398.35 during the opening trade on May 27. This increase followed the announcement that RVNL had emerged as the lowest bidder for a project by Maharashtra Metro Rail Corporation.
On the BSE, shares of Rail Vikas Nigam were up Rs 21.95, or 5.93 percent, to Rs 392.30 as of 09:26 a.m.
According to a company release, RVNL has been named the lowest bidder (L1) for a project by Maharashtra Metro Rail Corporation Limited (Nagpur Metro). The project involves constructing six elevated metro stations: Kamptee Municipal Council, Kanhan River Metro Station, Cantonment, Dragon Palace, Golf Club, and Kamptee Police Station. These stations span from Ch. – 7576.78mm to Ch. – 13457. 76m in Reach 2B of the Nagpur Metro Rail Project Phase 2.
The project has a thirteenth-month completion period and a value of Rs 187.34 cr. Last week, the enterprise obtained a letter of popularity well worth Rs 148.26 cr from SER HQ ELECTRICAL/South Eastern Railway. The contract involves the design, supply, erection, testing, and commissioning for upgrading the electric traction system from 1 x 25 KV to 2 x 25 KV. This upgrade will be implemented in the Kharagpur (Excl.) to Bhadrak (Excl.) section of the Kharagpur division of South Eastern Railway to meet a loading target of 3000 MT.
The company reported a 33.2 percent increase in its Q4 net profit, reaching Rs 478.6 cr, while revenue from operations grew 17.4 percent year-on-year to Rs 6,714 crore.
At the operating level, EBITDA for Q4FY24 saw a 21.8 percent year-on-year increase, reaching Rs 456.4 cr compared to Rs 374.6 cr in the corresponding period last year.
The share price witnessed a remarkable surge of 238 percent over the past year.
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