Navratna CPSE RVNL-Salasar JV Bags Order From MP Power Transmission, Volume Spurts

Leading mid cap public sector undertaking and Navratna CPSE, Rail Vikas Nigam Ltd (RVNL) shares witnessed sharp gain of 9.14% today. The reason behind the sharp rally is an order win from MP Power Transmission. Today RVNL-Salasar JV received Letter Of Award (LoA) from Madhya Pradesh Power Transmission Co. Ltd. Current market price of Rail Vikas Nigam share today on BSE is Rs 243.10 apiece.

Rail Vikas Nigam shares offered investors return of 283% in last 1-year only and declined 2.49% in last 1-month. RVNL company has a market capitalisation of Rs 50,686.84 crore. RVNL shares witnessed spurt in volume by 2.49 times today and 2.79 times yesterday. Check details below:

Rail Vikas Nigam Bags New Order, Shares Jump: According to the BSE filing of Rail Vikas Nigam dated March 13, 2024, "This is in continuation to our letter no. RVNL/SECY/STEX/2024 dated 22.02.2024. In terms of Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, it is hereby informed that RVNL-SALASAR JV has received Letter of Award (LoA) from Madhya Pradesh Power Transmission Co. Ltd. for "Construction of 132 kV & 220 kV Transmission Lines and associated Feeder Bays on total Turnkey basis in Eastern MP". The time period by which the order needs to be executed is 18 months.

The total cost of project is Rs 173,98,66,074.31/- (Rs One Hundred Seventy-Three Crore Ninety-Eight Lakh Sixty-Six Thousand Seventy-Four and Thirty-One Paisa only) including GST. RVNL-51% & Salasar Techno Engineering Limited -49%, added the BSE filing.

Rail Vikas Nigam Shares Performance & Return: The 52-week high price of RVNL stock on BSE is Rs 345.60 apiece and 52-week low price is Rs 60.30 apiece, respectively. Rail Vikas Nigam shares surged 42% in last 6-months, gained 643% in last 2-years, and offered return of 675% in last 3-years.

Rail Vikas Nigam Bags Order From Madhya Pradesh Metro Rail Corporation: As per the March 9, 2024 BSE filing of the company, "it is hereby informed that M/s RVNL-URC JV has received Letter of Acceptance (LoA) from Madhya Pradesh Metro Rail Corporation Limited (MPMRCL) for "Part Design and Construction of Elevated Viaduct, Five (5) Elevated Metro Rail Stations (viz. Shaheed Bagh, Khajrana Chauraha, Bengali Chauraha, Patrakar Colony & Palasia Chauraha) and Ramp between Chainages 31+755 to 34+898.061 & 3+669.547 to 5+862 for Indore Metro Rail Project."

The time period by which the order needs to executed is 1092 days and size of the order is Rs. 543,00,00,000.00 (Rupees Five Hundred Forty-Three Crore Only) excl. GST

RVNL Dividend History: Rail Vikas Nigam announced 8 dividends since September 6, 2019. In last 12 months, RVNL announced an equity dividend amounting to Rs 2.13 per share.

About: RVNL is a Navratna CPSE under the Ministry of Railways, Government of India. RVNL functions as an extended arm of the Ministry of Railways working for & on behalf of Ministry of Railways (MoR). It is empowered to act as an Umbrella SPV to undertake project development, resource mobilization etc. directly or by creating project specific SPVs or by any other financing structure found suitable, according to its official website.

Disclaimer: The stock just highlights order wins and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.