RVNL share price gains 3% as it secures East Central Railways project worth ₹187 Crore

Stock Market today: Rail Vikas Nigam Ltd (RVNL) share price gained more than 3% in the morning trades on Wednesday as it secured the ₹186.73 Crore East Central railway project

Project details

Rail Vikas Nigam Limited on Tuesday post market hours announced on the exchanges that it has received Letter of Acceptance from East Central Railway for “Design, Supply, Erection, Testing & Commissioning of Traction Sub Stations with associated Switching Posts for upgradation work of electric traction system from 1X25 to 2 X 25 KV AT feeding system in Gomoh - Patratu Section of Dhanbad Division of East Central Railway

Rail Vikas Nigam Ltd (RVNL) share price opened at ₹443.75 on the BSE on Wednesday,, 1.4% higher than the previous closing price of ₹437.60. The RVNL share priec thereafter gained further to ₹451.85, marking gains of more than 3%.

Broad consideration or size of the Project from East Central Railway is ₹186.76 crore The project is to be completed in 54 Months

Rail Vikas Nigam Limited remains in focus on regular order flows

Rail Vikas Nigam Limited in November end had announed project win worth ₹642 Crore from Punjab State Power Corporation Ltd (PSPCL)

Rail Vikas Nigam Limited or RVNL had announced being shortlisted as the Lowest Bidder (L1) from PSPCL for “Development of distribution Infrastructure work for Package-3 Central Zone for execution of HT/LT (high tension/ Low tension) Infrastructure loss reduction works under reforms-based and results-linked, revamped distribution sector scheme (RDSS) in the state of Punjab

The project is to be executed in 24 months.

Multibagger returns by RVNL

Rail Vikas Nigam Ltd share price that has corrected significantly from 52 week or 1 year highs of ₹647 seen in July 2024, however still has given Multibagger returns to investors.The Rail Vikas Nigam Limited or RVNL share price is still up almost 148% year to date.

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