RVNL moves higher as its JV receives LoA from MPMRCL
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Rail Vikas Nigam is currently trading at Rs. 249.40, up by 11.40 points or 4.79% from its previous closing of Rs. 238.00 on the BSE.
The scrip opened at Rs. 251.05 and has touched a high and low of Rs. 257.55 and Rs. 248.35 respectively. So far 1677203 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. 60.30 on 16-Mar-2023.
Last one week high and low of the scrip stood at Rs. 257.55 and Rs. 232.50 respectively. The current market cap of the company is Rs. 52083.80 crore.
The promoters holding in the company stood at 72.84%, while Institutions and Non-Institutions held 8.67% and 18.49% respectively.
Rail Vikas Nigam’s (RVNL) joint venture (JV) -- RVNL-URC JV has received Letter of Acceptance (LoA) from Madhya Pradesh Metro Rail Corporation (MPMRCL) for ‘Part Design and Construction of Elevated Viaduct, Five Elevated Metro Rail Stations (viz. Shaheed Bagh, Khajrana Chauraha, Bengali Chauraha, Patrakar Colony & Palasia Chauraha) and Ramp between Chainages 31+755 to 34+898.061 & 3+669.547 to 5+862 for Indore Metro Rail Project’. Broad consideration or size of the order is Rs 543 crore. The said order is expected to be executed in 1092 days.
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.
