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RVNL’s share price climbs by more than 1%, on gaining projects worth Rs 332 crores

Aug 1, 2023

By: BlinkX Research Team

The share price of Rail Vikas Nigam Limited (RVNL) increased by 1% to Rs 125.60 after the company received a Letter of Award (LOA) for two projects from Madhya Pradesh Poorv Kshetra Vidyut Vitran Company in the Jabalpur Company Area.

The total cost of the project is Rs 331.62 crore.

The first project is Package-16, which includes the supply, installation, testing, and commissioning of new 11 KV lines, LT lines on AB cable, distribution transformer substations, and supporting works such as DPs, TPs, crossings, and so on for the separation of 11 KV mix feeders and mix DTRs in the Chhatarpur circle of MPPKVVCL, Jabalpur Company Area, under revamped reforms-based and results-linked distribution sector.

The project's cost is Rs 1,49,63,02,179.

Package-17 is with the same specification in Seoni & Narsinghpur circle of MPPKVVCL, Jabalpur Company Area with a cost of Rs 1,81,99,65,651.

The company received a Letter of Award from Haryana Rail Infrastructure Development Corporation (HRIDC) on July 28, with a project cost of Rs 10,884,924,938.08.

A meeting of the company's board of directors has been scheduled for August 12, 2023, to consider, approve, and take on record the Company's Unaudited Financial Results (Standalone and Consolidated) for the quarter ended 30th June 2023.

On July 24, 2023, and August 23, 2022, the share reached a 52-week high of Rs 146.65 and a 52-week low of Rs 30.55, respectively.

Source: Media Reports