RVNL shares: Shares of state-run Rail Vikas Nigam Ltd (RVNL) climbed 3% on Thursday after the company announced it had received a Letter of Acceptance from Southern Railway for automatic signaling work on the Ernakulam JN (ERS) – Vallattol Nagar (VTK) section on the B-Route of the Thiruvananthapuram Division in Southern Railway. The order is valued at Rs 72.73 crore.
RVNL stock rose 3% to Rs 420.70, up from the previous close of Rs 409.05 on the BSE. A total of 9.28 lakh RVNL shares were traded, resulting in a turnover of Rs 38.41 crore. The market capitalization of RVNL increased to Rs 85,298 crore on the BSE.
“This is in continuation of our letter no. RVNL/SECY/STEX/2024 dated 28.05.2024. In accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform that Rail Vikas Nigam Limited has received a Letter of Acceptance from North Central Railway for the provision of EI-based automatic signaling with continuous track circuiting and other associated works, along with suitable indoor alterations in electronic interlocking/RRI/PI stations en route in the Dhaulpur-Gwalior section of the Jhansi division of North Central Railway,” stated RVNL in a communication to the bourses.
The contract is scheduled to be executed within 455 days.
On Wednesday, the firm announced it had received a Letter of Acceptance from Southern Railway for automatic signaling work on the Ernakulam JN (ERS) – Vallattol Nagar (VTK) section on the B-Route of the Thiruvananthapuram Division in Southern Railway. This order, valued at around Rs 156 crore, is expected to be completed in 750 days. The contract has been awarded to a joint venture between RVNL and KRDCL, with RVNL holding a 49% share in the JV.
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RVNL serves as the executing arm of Indian Railways, working on behalf of the ministry for projects assigned to it for execution. Operating on a turnkey basis, RVNL undertakes the full cycle of project development, from conceptualization to commissioning, including stages of design, preparation of estimates, calling and awarding of contracts, and project and contract management.
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