Hot Pursuit     04-Sep-23
RVNL hits record high on bagging Rs 282-cr LoA from MGVCL
Rail Vikas Nigam (RVNL) jumped 10.71% to Rs 153.05 after the company received letter of acceptance (LoA) from Madhya Gujarat Vij Company (MGVCL) for full turnkey contract worth Rs 282.11 crore.
The order entails design, supply and installation for development of distribution infrastructure work for loss reduction at Dahod district under Revamped Reforms-Based and Results-linked Distribution Sector Scheme.

The cost of the above projet is Rs 282,11,91,634 and it is to be executed in 31 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.

The company reported 15.19% rise in consolidated net profit to Rs 342.90 crore on 20.15% increase in revenue from operations to Rs 5,571.57 crore in Q1 FY24 over Q1 FY23.

The counter hit an all time high at Rs 158 in intraday today.

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