RVNL Rallies on Bagging Rs 404-Cr Order From East Coast Railway
Rail Vikas Nigam Limited (RVNL) surged 3.68% to Rs 424.15 after being named the 'lowest bidder' (L1) for a Rs 404.40 crore project by East Coast Railway. The project involves the construction of 27 major bridges, earthworks for approaches, protection works, and other associated tasks between Tikiri and Bhalumaska stations for the Koraput-Singapur road doubling project under the Waltair Division of East Coast Railway. The project is scheduled for completion in 30 months.
Additionally, RVNL has also emerged as the lowest bidder (L1) for a Rs 137.16 crore contract with Central Railway for designing and supplying the traction system for the Bhusaval-Khandawa sections of the Central Railway. This project is expected to be completed in 24 months.
Rail Vikas Nigam is a major player in executing various railway projects, including new lines, doubling, gauge conversion, railway electrification, metro projects, workshops, major bridges, and the construction of cable-stayed bridges.
RVNL recently reported a 27.26% decline in consolidated net profit to Rs 286.89 crore, with a slight 1.20% drop in revenue from operations, which stood at Rs 4,854.95 crore in Q2 FY25 compared to Q2 FY24.
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