RVNL Share Price: Rail Vikas Nigam Limited (RVNL) has received a new order worth Rs 156.4 crore. The company said that it has been selected as the lowest bidder (L1) for an important project of South Western Railway. Under this project, RVNL has been entrusted with the work of design, supply, installation, testing and commissioning of 2×25 KV overhead electrification (OHE) and power supply (PSI) system. This work will be done in the TK-RDG section between Rayadurga and Topalguda.
In a communication sent to the stock exchanges, the company said that its contract includes setting up of transmission substations (TSS), switching posts (SP) and sectioning and paralleling posts (SSP). Apart from this, electrical general services, engineering and telecommunication work are also included. The total length of the project is 99.463 RKM / 114.145 TKM.
According to RVNL, the total cost of this project is ₹156.36 crores. It is targeted to be completed in 18 months. RVNL has clarified that this is a domestic project and it has been approved as per SEBI rules. RVNL's promoter group has no role in this contract, and this is not a related party transaction.
Let us tell you that RVNL is a government company working under the Indian Railway Ministry. It works related to developing and implementing railway infrastructure in the country. RVNL shares closed down 3.4% at Rs 368.50 on NSE on Friday, February 21. However, during this week the company's shares have registered a gain of up to 6%. But since the beginning of this year, they have fallen by more than 13 percent. The current market cap of the company is Rs 77,450 crore.
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