Stock Market Today: Rail Vikas Nigam Ltd (RVNL)share price gained up to 4% in the intraday trades on Wednesday on ₹404 crore order update.
Rail Vikas Nigam Ltd (RVNL)share price opened at ₹410.05 on the BSE on Wednesday, moare than 2% higher than the previous closing price of ₹400.20. The RVVNL share price thereafter gained further to highs of ₹416.30 which meant gains of more than 4%
The Rail Vikas Nigam Ltd share price has corrected significantly from 52 week highs of ₹647 in July. However order book remains strong and is growing
Rail Vikas Nigam Ltd (RVNL) order details
Rail Vikas Nigam Ltd in its intimation to exchanges on 4 February 2025 informed about receiving Letter of Acceptance received from East Coast Railway.
Rail Vikas Nigam Limited in its intimation said that it 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 time period for the completion by Rail Vikas Nigam Ltd is 30 Months
The broad consideration or the project cost is ₹404,40,32,985.00/- (Rupees Four Hundred Four Crore Forty Lakh Thirty Two Thousand Nine Hundred Eighty Five Only) (Including GST)
While the order boosted the investors sentiments, leading to 4% gains for the stock, nevertheless the stock gave up part of the gains. The investors will be watchful of RVNL Q3 performance to be declared soon.
RVNL also in another intimation to the exchanges on 4 January said that the meeting of the Board of Directors of Rail Vikas Nigam Ltd is scheduled on 12/02/2025 ,inter alia, to consider and approve the Unaudited Financial Results (Standalone and Consolidated) of the Company for the Quarter and nine months ended 31st December, 2024
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