Rail Vikas Nigam shines on entering into MoU with Tata Steel
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Rail Vikas Nigam is currently trading at Rs. 31.10, up by 0.90 points or 2.98% from its previous closing of Rs. 30.20 on the BSE.
The scrip opened at Rs. 31.20 and has touched a high and low of Rs. 31.65 and Rs. 31.00 respectively. So far 564045 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 35.60 on 11-Jan-2021 and a 52 week low of Rs. 18.05 on 29-Oct-2020.
Last one week high and low of the scrip stood at Rs. 31.65 and Rs. 29.90 respectively. The current market cap of the company is Rs. 6296.76 crore.
The promoters holding in the company stood at 78.20%, while Institutions and Non-Institutions held 9.51% and 12.29% respectively.
Rail Vikas Nigam (RVNL) has entered into a memorandum of understanding (MoU) with Tata Steel in connection with implementation of infrastructure projects either on nomination basis as a deposit work or through the special purpose vehicle (SPV) route subject to bankability of the SPV project, execution of definitive agreement and management approval.
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.
