30 May , 2024 By : Debdeep Gupta
Rail Vikas Nigam Limited (RVNL) shares rose 2 percent in the opening trade on May 30 after the company bagged a project worth Rs 38.10 crore.
At 09:41 am, Rail Vikas Nigam's shares were quoting 1.85 percent higher at Rs 382.45 apiece on the BSE.
".... received Letter of Acceptance from South East Central Railway for provision of auto signaling with electronic interlocking (OFC Based) between Champa-Saragaon-Baraduar-Sakti section with alteration in existing Electronic Interlocking & Supply, Installation, Testing, Commissioning of new Electronic Interlocking, MSDAC & IPS etc., execution of all indoor & outdoor works & construction and Electrification of the huts etc. in Champa-Sakti Section of Bilaspur Division of S.E.C. Railway," the company said.
The said project cost is Rs 38.10 crore and to be executed in 15 months.
Earlier this month, the company bagged an order worth Rs 148 crore from the South Eastern Railway for designing, supplying, erection, testing, and commissioning for the upgradation of an electric traction system for the Kharagpur division.
Also, the company emerged as the lowest bidder (L1) for Maharashtra Metro Rail Corporation Limited's (Nagpur Metro) project involving the construction of six elevated metro stations. These stations include Cantonment, Kamptee Police Station, Kamptee Municipal Council, Dragon Palace, Golf Club, and Kanhan River Metro Station, spanning from Ch. – 7,576.78mm to Ch - 13,457.76m in Reach 2B of the Nagpur Metro Rail Project (NMRP) Phase 2.
The project, valued at Rs 187.34 crore, is to be completed within 30 months.
The shares touched a 52-week high of Rs 399.70 and a 52-week low of Rs 110.50 on May 27, 2024, and May 31, 2023, respectively.
Currently, the stock is trading 4.32 percent below its 52-week high and 246.11 percent above its 52-week low.
The share price jumped 200 percent in the last 9 months.
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