Rail Vikas Nigam climbs after its JV emerges as lowest bidder for project worth Rs 81.22 crore
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Rail Vikas Nigam is currently trading at Rs. 121.70, up by 2.95 points or 2.48% from its previous closing of Rs. 118.75 on the BSE.
The scrip opened at Rs. 119.10 and has touched a high and low of Rs. 124.40 and Rs. 119.10 respectively. So far 2469931 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 144.50 on 08-May-2023 and a 52 week low of Rs. 29.00 on 21-Jun-2022.
Last one week high and low of the scrip stood at Rs. 128.80 and Rs. 116.65 respectively. The current market cap of the company is Rs. 25353.84 crore.
The promoters holding in the company stood at 78.20%, while Institutions and Non-Institutions held 8.04% and 13.76% respectively.
RVNL-GEW, a joint venture (JV) between Rail Vikas Nigam (RVNL) and M/s Ganapathi Engineers Works (GEW), has emerged as the lowest bidder (L1) from South Central Railway for ‘Comprehensive signalling and telecommunication works for provision of automatic block signalling system in Balharshah - Makudi section of Secunderabad Division in South Central Railway.’
The cost of project is Rs 81.22 crore (M/s Ganapathi Engineers Works, Hubli Share is 51% and M/s Rail Vikas Nigam Share is 49%).
Rail Vikas Nigam is in the business of executing all types of railway projects including new lines, doubling, gauge conversion, railway electrification, metro projects, workshops, major bridges, construction of cable stayed bridges, institution buildings etc.
