RVNL Shares Remain Steady Amid New Project Wins

by | May 2, 2024 | 0 comments

RVNL (Rail Vikas Nigam Limited) Shares Update:

Rail Vikas Nigam Limited (RVNL) on May 2 saw its stocks remain unvaried in opening deals even after the Eastern Railway declared it as the lowest bidder for a new scheme. On Thursday morning, shares of RVNL were marginally down by Rs 0.25 or 0.09 per cent at Rs 286.00 on BSE.

The project involves constructing Sitarampur bypass line under Asansol division of Eastern Railway with an estimated cost of Rs 390.97 crore and completion period of 24 months.

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In other developments, KRDCL-RVNL joint venture (JV) has received Letter of Acceptance (LoA) from Southern Railway worth Rs 438.95 crore on April 29. The work is for redevelopment of Thiruvananthapuram Central Railway Station on engineering procurement and construction (EPC) basis subsequent to emerging as the lowest bidder for same project costing Rs 438.95 crore earlier on April 24.

Also, the board meeting of RVNL is scheduled to be held on May 15,2024 to consider, approve and take on record the Audited Financial Results (both Standalone & Consolidated) for the fourth quarter and financial year ended March 31,2024 along with recommending final dividend if any for financial year 2023-24 subject to approval by shareholders at the ensuing Annual General Meeting(AGM).

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The market’s confidence in RVNL’s continuous efforts and future ventures can be seen in RVNL shares’ stability as they clinch more significant undertakings too.

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