Following the receipt of an order for over Rs 186 crore from East Central Railway, shares of Rail Vikas Nigam (RVNL) rose 3.2% and hit an intraday high of Rs 451.60. The business stated in its regulatory filing: We would like to notify you that East Central Railway has sent Rail Vikas Nigam Limited a Letter of Acceptance.
RVNL Wins ₹186.77 Crore Traction Upgrade Contract
East Central Railway ordered Rail Vikas Nigam Limited to upgrade the electric traction system in the Gomoh-Patratu section of the Dhanbad Division from 1×25 to 2×25 KV AT for ₹186.77 crore. The 30-month project entails designing, supplying, constructing, testing, and commissioning traction stations and switching posts. The project in question is expected to be finished in 540 days.
Rail Vikas Nigam Limited Share Price Update
The share price of Rail Vikas Nigam Limited is up 3.50 from its previous close at 441.25 as of the most recent trading session. The stock has moved between 439.00 and 451.60 today. Rail Vikas Nigam Limited has generated a return of 153.91% in the last 12 months. The return has been -1.89 percent in the past month alone.
About the Company – Rail Vikas Nigam Ltd
Established in 2003 by the Indian government, Rail Vikas Nigam Ltd. is involved in the implementation of a variety of rail infrastructure projects assigned by the Ministry of Railways (MoR). These projects include major bridges, workshops, production units, gauge conversion, new lines, doubling, railway electrification, and the sharing of freight revenue with railways in accordance with the concession agreement signed with the Ministry of Railway.
Based on the last 12 months, Rail Vikas Nigam’s operating revenue was Rs. 20,332.09 Cr. An 8% annual revenue growth rate is good, a 9% pre-tax margin is acceptable, and a ROE of 18% is remarkable. At 63%, the company’s debt to equity ratio is slightly higher. In terms of technical analysis, the stock is trading about 5% higher than its 200DMA and below its 50DMA.
