Navratna CPSE Rail Vikas Nigam Ltd shares today witnessed surge of 1.50% on Bombay Stock Exchange (BSE) after the company received letter of acceptance (LOA) from East Coast Railway worth Rs 404.40 crore. Current market price of Rail Vikas Nigam share on BSE is Rs 406.20 per share. The company informed today that its Board of Directors will hold meeting on February 12, 2025 to consider financial results for the quarter and nine months ended December 31, 2024.
RVNL shares offered return of over 44% in last 1-year and slipped 26.26% in last 6-months. FII/FPI reportedly increased holdings from 5.05% to 5.10% for December 2024 quarter. Life Insurance Corporation of India (LIC) has 5.81% stake in RVNL. The company’s market capitalisation stood at Rs 84,693.52 crore, according to BSE. Check details below:
RVNL To Consider Financial Results
According to the BSE filing of RVNL dated February 4, 2025, “a meeting of the Board of Directors of the Company is scheduled to be held on Wednesday, 12th February, 2025, inter alia, to consider, approve and take on record the Unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter and nine months ended 31 st December, 2024.”
RVNL Receives LoA from East Cost Railway
The navratna PSU informed on February 4, 2025 about receiving letter of acceptance from East Cost Railway. The exchange filing said, “Rail Vikas Nigam Limited has received Letter of Acceptance from East Coast Railway for “Koraput-Singapur Road Doubling Project: Execution of 27 Nos of Major Bridges i.e. (22 Nos of Major Bridges & 5 Nos of ROBs) and earth work in formation of approaches, protection works and other connected miscellaneous works between Tikiri and Bhalumaska stations in connection with Koraput-Singapur Road Doubling Project of Waltair Divison, East Coast Railway.”
The project cost is INR 404,40,32,985.00/- (Rupees Four Hundred Four Crore Forty Lakh Thirty Two Thousand Nine Hundred Eighty Five Only) (Incl. GST). The time period by which the order needs to be executed is 30 months.
RVNL Shares Performance
The 52-week high price of RVNL shares on BSE is Rs 647.00 per share (as on 15/07/2024) and 52-week low price is Rs 213.00 per share (as on 14/03/2024), respectively. The Navratna PSU offered return of 461.44% in last 2-years, offered return of 1057.26% in last 3-years, and declined 5.96% in last 1-month. In last 5-years, RVNL shares delivered highest returns of 1505.3%.
About RVNL
RVNL is a Navratna CPSE under the Ministry of Railways, Government of India. RVNL functions as an extended arm of the Ministry of Railways working for & on behalf of Ministry of Railways (MoR). It is empowered to act as an Umbrella SPV to undertake project development, resource mobilization etc. directly or by creating project specific SPVs or by any other financing structure found suitable, according to its official website.
Disclaimer
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