Rail Vikas Nigam soars on getting LoA for appointment as Project Implementation Agency for Maldives Project

Rail Vikas Nigam is currently trading at Rs. 66.40, up by 2.85 points or 4.48% from its previous closing of Rs. 63.55 on the BSE.

Rail Vikas Nigam
Rail Vikas Nigam

The scrip opened at Rs. 65.25 and has touched a high and low of Rs. 66.70 and Rs. 64.85 respectively. So far 1615720 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 84.15 on 29-Nov-2022 and a 52 week low of Rs. 29.00 on 21-Jun-2022.

Last one week high and low of the scrip stood at Rs. 75.60 and Rs. 60.00 respectively. The current market cap of the company is Rs. 13250.30 crore.

The promoters holding in the company stood at 78.20%, while Institutions and Non-Institutions held 9.19% and 12.61% respectively.

Rail Vikas Nigam (RVNL) has received LoA for appointment as Project Implementation Agency for implementation of the UTF Harbor Project in Maldives. This is a strategic project of Government of India. The project cost is Rs 1544.60 crore.

Earlier, RVNL had been awarded contract for Construction of Bhesan Depot cum Workshop which includes DDC, BCC and associated E&M works under Corridor- C2, Bhesan to Saroli, for Surat Metro Rail Project Phase- 1, DC 2 by Gujarat Metro Rail Corporation (GMRC). The total awarded cost of project is Rs 198.93 crore (Excluding taxes, duties and Provisional Sum).

Rail Vikas Nigam is in the business of executing all types of railway projects including new lines, doubling, gauge conversion, railway electrification, metro projects, workshops, major bridges, construction of cable stayed bridges, institution buildings etc.

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