With Southern Railway Order, RVNL Stocks Surged by 3%

RVNL

RVNL shares increased by 3% to Rs 420.70 from the previous close of Rs 409.05 on BSE. A total of 9.28 lakh RVNL shares changed hands, generating a transaction of Rs 38.41 crore. State-run Rail Vikas Nigam Ltd (RVNL) shares jumped 3% on Thursday after the company announced that it has got a Letter of Acceptance from Southern Railway for autonomous signaling work on the Ernakulam JN (ERS) – Vallattol Nagar (VTK) stretch on the B-Route of the Thiruvananthapuram Division. The order cost Rs 72.73 crore.

RVNL shares increased by 3% to Rs 420.70 from the previous close of Rs 409.05 on BSE.

A total of 9.28 lakh RVNL shares changed hands, generating a transaction of Rs 38.41 crore. RVNL’s market capitalization grew to Rs 85,298 crore on the BSE. “This is a continuation of our letter no. RVNL/SECY/STEX/2024, dated May 28, 2024. In accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, it is hereby informed that Rail Vikas Nigam Limited has received Letter of Acceptance from North Central Railway for Provision of EI-based Automatic Signalling with continuous track circuiting and other Associated works, along with suitable indoor alterations in Electronic interlocking/RRI/PI stations enroute in DhaulpurGwalior Section.

The contract is to be executed for 455 days. The firm said on Wednesday that it has acquired a Letter of Acceptance from Southern Railway for autonomous signaling work on the Ernakulam JN (ERS) – Vallattol Nagar (VTK) stretch on the B-Route of the Thiruvananthapuram Division of Southern Railway. The deal is worth approximately Rs 156 crore and is expected to be completed in 750 days. The order has been given to a joint venture between RVNL and KRDCL. RVNL owns 49% of the joint venture.

RVNL is Indian Railways’ executing arm, working for and on behalf of the ministry on projects given to it for implementation. It operates on a turnkey basis, managing the entire project development cycle from conceptualization to commissioning, including design, estimate preparation, contract calling and awarding, and project and contract administration.

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