The share of this mid-cap company gained up to 2 percent after the company’s joint venture emerged as the lowest Bidder for major upgradation/redevelopment of the Varkala Sivagiri Railway Station.
With a market capitalization of Rs 38,635.42 crores, the shares of Rail Vikas Nigam Ltd trading at Rs 185.30 per share, increasing around 0.87 percent compared to the previous closing price of Rs 655.90 per share.
The company filing states that the joint venture between Rail Vikas Nigam Ltd and Karnataka Road Development Corporation (KRDCL) was the lowest bidder for the major renovation/upgradation of the Varkala Sivagiri Railway Station, which is valued at Rs 123 crores.
Furthermore, In this joint venture shares of the firm Rail Vikas Nigam Ltd and Karnataka Road Development Corporation (KRDCL) are 51 percent and 49 percent respectively.
Recently, The lowest-priced bidder, Rail Vikas Nigan Ltd, was given the contract by Madhya Pradesh Metro Rail Corporation for the partial design and construction of five elevated metro rail stations and an elevated viaduct, with a total estimated value of Rs 543 crore.
In half a year, the stock returned 45.60 percent, and in a full year, it returned 154%. An investor’s Rs 1 lakh investment would yield a return of Rs 2.54 lakhs annually on the company.
Looking into Rail Vikas Nigam Ltd’s performance, revenue increased by 0.1 percent from Rs 4,909 Crore in Q2FY23 to Rs 4,914 Crore in Q2FY24. During the same time frame, net profit increased by 3.4 percent from Rs 381 crore to Rs 394 crore.
In 2022–2023, RVNL surpassed the highly sought-after Rs 20,000 crore milestone by raising its project execution expenditure from Rs 19,381.71 crore to Rs 20,281.57 crore (excluding the Rs 3,343.47 crore GST element). This shows an increase of 4.64%.
Rail Vikas Nigam Ltd is engaged in the business of implementing various types of Rail infrastructure projects assigned by MoR including doubling, gauge conversion, new lines, railway electrification, and many more.
Written By:- Abhishek Singh
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