In early trade on March 11, the stock price of Rail Vikas Nigam (RVNL) saw a 5 percent increase after the company secured work orders worth Rs 1,826.14 crore.
As of 9:25 am, RVNL was trading at Rs 250.90 on the BSE, up Rs 12.90 or 5.42 percent.
The company received a Letter of Award (LoA) from the Himachal Pradesh State Electricity Board for infrastructure development in the North Zone of the state under the revamped distribution sector scheme. The project, aimed at reducing losses, is valued at Rs 409.65 crore and is slated for completion in 24 months. Additionally, RVNL secured a similar order for the South Zone of Himachal Pradesh, with a project cost of Rs 888.56 crore to be executed within the same timeframe.
Furthermore, RVNL received an LoA for supply, installation, testing, and commissioning of 11 KV Line associated works in various circles of MPPKVVCL, Jabalpur, with an order value of Rs 251 crore and a 24-month completion deadline.
Earlier, on March 9, in a joint venture (JV) with URC, RVNL secured an LoA worth Rs 543 crore from Madhya Pradesh Metro Rail Corporation Limited (MPMRCL) for part design and construction of the Indore Metro Rail Project. The project includes the construction of elevated viaduct, five elevated Metro Rail Stations, and ramp sections, to be completed at a total cost of Rs 1,092 crore, with RVNL’s share being 51 percent.
