The shares of this mid-cap company gained up to 4.13 percent after the company emerged as the Lowest Bidder for Part Design and Construction of an Elevated Viaduct and five Elevated Metro Rail Stations.
With a market capitalization of Rs 37,551.21 crores, Rail Vikas Nigam Ltd, On Tuesday, the company shares were trading at Rs 180.10 apiece, an increase of 1.04 percent from the previous close price.
As stated in the company filing, Madhya Pradesh Metro Rail Corporation awarded the contract to Rail Vikas Nigan Ltd, the Lowest Bidder, for the Part Design and Construction of an Elevated Viaduct and five Elevated Metro Rail Stations, valued at Rs 543 crore.
RVNL exceeded the coveted milestone of Rs 20,000 crore in 2022–2023 by increasing its project execution expenditure from Rs 19,381.71 crore to Rs 20,281.57 crore, which does not include the GST element of Rs 3,343.47 crore. This indicates a 4.64% increase.
The stock gave a 45.60 percent return in six months and a 154 percent return in a year. If an investor invests Rs 1 lakh in the company would be worth Rs 2.54 Lakhs in a year.
Looking into the company’s performance, Rail Vikas Nigam Ltd’s revenue increased by 0.1 percent from Rs 4,909 Crore in Q2FY23 to Rs 4,919 Crore in Q2FY24. During the same period, net profit increased by 3.4 percent from Rs 381 crore to Rs 394 crore.
The year saw RVNL surpass the 1,000 km commissioning benchmark for gauge conversion, new lines, and doublings. With 119 km of new line, 925.00 km of doubling, and 299.3 km of railway electrification, the entire 1,343.30 km project length was put into service. Zonal Railways was entrusted with these for their use.
During the year, RVNL completed 146 Non-Interlocking (NIs) stations for the commissioning of Doubling and Third Line projects. RVNL also installed 46 midsection level crossing gates with interlocking and a record 52 IBS/Auto signals. Along with its remarkable accomplishment in signaling, RVNL also boasts an impressive track record in telecommunication, having installed six quad cable networks and 1,350 km of fiber optic network in a year.
Implementing various rail infrastructure projects assigned by the Ministry of Railways (MoR) such as doubling, gauge conversion, new lines, and railway electrification is the business of Rail Vikas Nigam Ltd.
Written by:- Abhishek Singh
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