Shares of Rail Vikas Nigam Limited (RVNL) rose by up to 3.68% on November 7, 2024, reaching an intraday high of Rs 486.90. The stock's gain followed RVNL's announcement that it secured a Letter of Acceptance (LoA) for a Rs 1.8 billion project from East Central Railway.
The order involves the design, supply, erection, testing, and commissioning of a 2x25KV feeder line along the railway track, with modifications to the 25KV overhead electrification (OHE) system. The goal is to support a 3000 MT loading target for both up and down lines of the Garwa Road-Mahadiya section in Dhanbad Division, spanning 229 Route Kilometres (RKM) and 458 Track Kilometres (TKM). The project is expected to be completed within 18 months.
Based in New Delhi, RVNL specialises in rail infrastructure projects across India. Founded in 2003, it undertakes tasks such as new railway lines, doubling, gauge conversion, electrification, metro projects, and bridge construction. It also provides financial resource mobilisation services for its projects, serving clients like Indian Railways, government ministries, and public sector entities.
With a market capitalisation of Rs 1,001.95 billion, RVNL is listed under the BSE 200 category. (Business Standard)
