Rail Vikas Nigam zooms as its JV gets LoA from Rail Infrastructure Development Company
Rail Vikas Nigam is currently trading at Rs. 373.95, up by 40.85 points or 12.26% from its previous closing of Rs. 333.10 on the BSE.
The scrip opened at Rs. 332.35 and has touched a high and low of Rs. 376.55 and Rs. 329.00 respectively. So far 1181017 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. 387.40 and Rs. 325.05 respectively. The current market cap of the company is Rs. 77969.33 crore.
The promoters holding in the company stood at 72.84%, while Institutions and Non-Institutions held 11.27% and 15.89% respectively.
Rail Vikas Nigam’s (RVNL) joint venture (JV) -- RVNL-RPPL (JV) has secured Letter of Acceptance (LoA) from Rail Infrastructure Development Company (Karnataka) (K-RIDE) for ‘Package C4A: Construction of Nine Stations i.e. Elevated (1 No.) and At-Grade (8 Nos.) BSRP Stations of Corridor-4A at Heelalige, Singena Agrahara, Huskur, Ambedkar Nagar, Carmelaram, Bellandur, Marathahalli, Doddanakundi, Kaggadasapura including Civil, Structural, Entry / Exit Structure, Steel FOB, Roof Structures, PEB works Architectural finishes and E&M Works and Detailed Design & Engineering (DOC) with all associated works for Bengaluru Suburban Rail Project (BSRP). The project cost is Rs 554.46 crore (Excluding GST). In JV, Rail Vikas Nigam holds 51% share, while Rithwik Projects (RPPL) holds 49% share.
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.
