Rail Vikas Nigam inches up on receiving LoA worth Rs 167.28 crore
Rail Vikas Nigam is currently trading at Rs. 270.40, up by 0.45 points or 0.17% from its previous closing of Rs. 269.95 on the BSE.
The scrip opened at Rs. 272.65 and has touched a high and low of Rs. 274.55 and Rs. 269.85 respectively. So far 106093 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 345.60 on 23-Jan-2024 and a 52 week low of Rs. 110.50 on 31-May-2023.
Last one week high and low of the scrip stood at Rs. 290.50 and Rs. 260.95 respectively. The current market cap of the company is Rs. 56285.12 crore.
The promoters holding in the company stood at 72.84%, while Institutions and Non-Institutions held 8.50% and 18.66% respectively.
Rail Vikas Nigam has received Letter of Acceptance (LoA) from SER HQ-Electrical/South Eastern Railway for Design, Supply, Erection, Testing and Commissioning for upgradation of Electric traction system from 1 x 25 KV to 2 x 25 KV traction system for Rajkharsawan -Nayagarh-Bolani section of Chakradharpur division of South Eastern Railway to meet 3000 MT loading target. Cost of work is Rs 167.28 crore including applicable taxes. The said contract is expected to be completed in 18 months.
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.
