Rail Vikas Nigam shines on bagging LoA worth Rs 9,613.42 crore from BSNL
Rail Vikas Nigam is currently trading at Rs. 425.70, up by 14.70 points or 3.58% from its previous closing of Rs. 411.00 on the BSE.
The scrip opened at Rs. 411.40 and has touched a high and low of Rs. 432.50 and Rs. 406.95 respectively. So far 325430 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 647.00 on 15-Jul-2024 and a 52 week low of Rs. 213.00 on 14-Mar-2024.
Last one week high and low of the scrip stood at Rs. 432.50 and Rs. 355.85 respectively. The current market cap of the company is Rs. 88196.35 crore.
The promoters holding in the company stood at 72.84%, while Institutions and Non-Institutions held 11.38% and 15.79% respectively.
Rail Vikas Nigam in consortium with HFCL and ATS, has received Letter of Acceptance (LoA) worth Rs 9,613.42 crore from Bharat Sanchar Nigam (BSNL) for ‘Development (Creation, Upgradation and Operation & Maintenance) of Middle mile network of Bharat Net on Design Build Operate and Maintain (DBOM) Model.’
The aforesaid work is in the normal course of business of the company. The order involves 03 years for construction & 10 years of maintenance contract at 5.5% per annum of capex for 1st 5 years & at 6.5% per annum of capex for next 5 years.
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.
