Rail Vikas Nigam Limited a prominent government company of India engaged in the business of implementing various types of railway infrastructure projects, has made a significant announcement regarding orders received by the company.
As per details in the report, RVNL secures the lowest bid (L1) for the project involving the construction of four tunnels with a total length of 1.6km, ballast-less track, earthwork in formation, key bridges (2), major bridges (1), minor bridges (25), stone ballast supply, track linking, side drains, and retaining walls, spanning from Km 831.8 to Km 841.9 in the Dharakhoh-Maramjhiri section as part of the third-line expansion.
The project cost is Rs 311 crore, and the project is to be completed within 18 months.
The shares of RVNL company opened the day at Rs 170.45, which was unchanged from the previous day’s closing price of Rs 169.80 each on the BSE. It reached intraday highs and lows of Rs 170.75 and Rs 165, respectively, and ultimately closed the session at Rs 166.55 each on the BSE.
The current market capitalization of the company is Rs 34,726 crore. The stock has exhibited impressive performance historically, generating a 157% return in the last six months and a 395% return in the last one year.
Rail Vikas Nigam Ltd (RVNL) is actively involved in executing diverse railway infrastructure projects as assigned by the Ministry of Railways. These projects encompass activities such as doubling of tracks, gauge conversion, new rail line construction, railway electrification, significant bridge construction, establishment of workshops and production units, and revenue sharing with the Railways in accordance with the concession agreements negotiated with the Ministry of Railways.
Investors must keep this stock on their radar.
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