Rs 2.11 Dividend Soon: Railways PSU Wins New Order, Shares Jump 421% In 1-Yr

Rail Vikas Nigam Ltd shares today hit fresh 52-week high after it informed of receiving new order worth Rs 138 crore from Central Railway. Current market price of Rail Vikas Nigam Limited share on BSE is Rs 631.80 per share with intraday gain of 3.48%. Rail Vikas Nigam Limited shares gained 50% in last 1-week only and soared 246% year-to-date. The railway PSU has a market capitalisation of Rs 1,31,585.62 crore. RVNL recommended a final dividend of Rs 2.11 per share on May 17 with record date yet to be decided for the same. Check details below:

Rail Vikas Nigam Limited Bags New Order: As per the BSE filing of RVNL issued as on July 11, "This is in continuation to our letter no. RVNL/SECY/STEX/2024 dated 10.06.2024. 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 Rail Vikas Nigam Limited has received Letter of Acceptance from Central Railway for "OHE modification work for Up-gradation of existing 1 x 25 kV Electric Traction System to 2 x 25 kV AT Feeding System in Amla-Nagpur Section in Nagpur division of Central Railway to meet 3000 MT loading target."

The time period by which the order needs to be executed is 24 months and size of the order is Rs approximately 138 crore.

RVNL Share Performance: The 52-week high price of RVNL share on BSE is Rs 643.95 per share (as on 11/07/2024) and 52-week low price is Rs 117.35 per share (as on 13/07/2023), respectively. RVNL share zoomed 62% in last 1-month, soared 142% in last 3-month only, jumped 421% in last 1-year, and gained 1939% in last 3-years.

Shareholding: FII/FPI have decreased holdings from 2.59% to 2.32% in Mar 2024 qtr. Number of FII/FPI investors increased from 122 to 131 in March 2024 qtr. Number of MF schemes remains unchanged at 17 in March 2024 quarter.

RVNL Financials: RVNL on May 17, 2024 announced a jump of 33.2% year-on-year (YoY) in its net profit to Rs 478.6 crore for Q4 ended March 31, 2024 as against the net profit of Rs 359 crore in the corresponding quarter of last year. RVNL's revenue from operations jumped 17.4% to Rs 6,714 crore as against Rs 5,719.8 crore in the same quarter of last year. Its EBITDA, at the operating level, rallied 21.8% to Rs 456.4 crore for March 2024 quarter as against Rs 374.6 crore in the year ago period. EBITDA margin came at 6.8% for the quarter under review as against 6.6% in the same period of last fiscal.

RVNL Dividend: As per the May 17 BSE filing of RVNL, the board recommended a final dividend of Rs 2.11 per share (i.e. 2 1.10%) on the paid-up equity share capital for the financial year 2023-24 subject to the approval of the shareholders at the ensuing AGM. Final dividend 2023-24 will be paid within 30 days from the date of its declaration at the AGM.

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.

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