RVNL Share Price Rises on Securing ₹284 Crore Railway Project Order
Contents
- 1 RVNL Share Price
- 1.1 RVNL Share Price Rises on Securing ₹284 Crore Railway Project Order
- 1.1.1 Key Details of the ₹284 Crore East Coast Railway Project
- 1.1.2 RVNL’s Expanding Infrastructure Portfolio
- 1.1.3 RVNL’s Stock Performance and Market Position
- 1.1.4 Conclusion:
- 1.1.5 FAQs:
- 1.1.5.1 1.What order did RVNL recently secure?
- 1.1.5.2 2.How did the RVNL stock respond to the order announcement?
- 1.1.5.3 3.What does the East Coast Railway project involve?
- 1.1.5.4 4.What is the completion timeline for this project?
- 1.1.5.5 5.What is RVNL’s core business?
- 1.1.5.6 6.What is RVNL’s market cap?
- 1.1.5.7 7.Where is RVNL headquartered?
- 1.1.5.8 8.Who are RVNL’s primary clients?
- 1.1.5.9 9.What was RVNL’s intraday high after the order announcement?
- 1.1.5.10 10.What is the current market sentiment on RVNL’s stock?
- 1.2 RVNL Share Price
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- 1.1 RVNL Share Price Rises on Securing ₹284 Crore Railway Project Order
Rail Vikas Nigam Limited (RVNL) saw a positive movement in its share price on Thursday, October 31, 2024, after securing a significant order valued at approximately ₹284 crore from East Coast Railway. The stock surged as high as 3.02% to reach an intraday peak of ₹479.75 per share, reflecting strong investor sentiment following the project announcement.
Key Details of the ₹284 Crore East Coast Railway Project
In an official filing, RVNL announced that it received a Letter of Acceptance (LoA) from East Coast Railway for constructing the 3rd and 4th rail lines between Jarapada and Talcher Road, along with a new line between Angul and Balram as part of the MCRL Inner Corridor Phase-I Doubling (14 km). This project includes remaining earthworks, minor and major bridge construction, track linking, ballast supply, signaling and telecommunication (S&T) buildings, level crossings, and other essential tasks for the Jarapada-Budhapank Project.
The total cost of the project is precisely ₹283.7 crore, with an expected completion timeline of 24 months. RVNL’s role will be pivotal in enhancing the railway infrastructure across the Jarapada-Talcher and Angul-Balram sections, contributing to improved rail connectivity and transportation efficiency.
RVNL’s Expanding Infrastructure Portfolio
Headquartered in New Delhi, Rail Vikas Nigam Limited was established in 2003 and has been actively engaged in the development of rail infrastructure across India. Its extensive project portfolio includes new rail lines, doubling of existing lines, gauge conversions, railway electrification, metro projects, and the construction of complex structures like cable-stayed bridges and institutional buildings. RVNL also offers resource mobilization services to support its projects, serving clients including Indian Railways, central and state government ministries, and other public sector enterprises.
RVNL’s Stock Performance and Market Position
As of 9:43 AM, RVNL shares were trading at ₹474.70 on the BSE, up by 1.94%. The company’s market capitalization stands at ₹99,236.53 crore, positioning it within the BSE200 index. In contrast, the BSE Sensex was trading slightly lower, at 79,657.57 points, down 0.36%.
Conclusion:
Rail Vikas Nigam Limited’s recent contract win with East Coast Railway underscores its growing expertise and footprint in India’s railway infrastructure. This significant project aligns with RVNL’s commitment to enhancing rail connectivity through substantial infrastructure upgrades. As RVNL continues to expand its project base, the company strengthens its position within the infrastructure sector, paving the way for sustained growth and shareholder value.
FAQs:
1.What order did RVNL recently secure?
A. RVNL won a ₹284 crore project from East Coast Railway for rail line construction and development.
2.How did the RVNL stock respond to the order announcement?
A. RVNL shares rose up to 3.02% on the BSE after the order announcement.
3.What does the East Coast Railway project involve?
A. The project includes the construction of 3rd and 4th lines between Jarapada and Talcher Road and a new line between Angul and Balram.
4.What is the completion timeline for this project?
A. The project is expected to be completed within 24 months.
5.What is RVNL’s core business?
A. RVNL specializes in railway infrastructure, including new lines, gauge conversion, electrification, metro projects, and bridge construction.
6.What is RVNL’s market cap?
A. RVNL’s market capitalization is approximately ₹99,236.53 crore as of the latest report.
7.Where is RVNL headquartered?
A. RVNL’s headquarters are in New Delhi, India.
8.Who are RVNL’s primary clients?
A. RVNL works with Indian Railways, government ministries, state departments, and other public sector undertakings.
9.What was RVNL’s intraday high after the order announcement?
A. The intraday high for RVNL’s share price was ₹479.75 per share.
10.What is the current market sentiment on RVNL’s stock?
A. Investor sentiment is positive, as indicated by the recent share price rise following the project announcement.
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