Introduction:
Leading railway stock has secured a significant project worth INR 837.67 crore from Eastern Railway for multi-tracking work. Spanning 36 months, the contract includes earthwork, bridges, ROBs, and drains, demonstrating compliance with SEBI norms and ensuring regulatory transparency.
Share price movement of Rail Vikas Nigam Limited:
On November 25, 2024, Rail Vikas Nigam Ltd. (RVNL) opened at ₹451.00, a 7.29% rise from its previous close of ₹420.40. The stock recorded an intraday high of ₹462.75, up 10.08%, and an intraday low of ₹446.15, gaining 6.12%.
By 10:02 AM, it was trading at ₹447.55, reflecting a 6.46% increase. The market capitalization for the day stood at ₹93,325.50 crore.
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RVNL Secures INR 837 Crore Project from Eastern Railway
Rail Vikas Nigam Limited has received a Letter of Acceptance from Eastern Railway for multi-tracking work between Kalipahari and Pradhankhuta, valued at INR 837.67 crore, including GST.
The 36-month project involves earthwork, bridges, ROBs, drains, and other infrastructure works. RVNL holds a 74% share in the joint venture, with SCPL owning the remaining 26%.
The contract, awarded by a domestic entity, excludes any promoter or related-party involvement. It aligns with SEBI disclosure norms, reflecting transparency and compliance.
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Recent news on Rail Vikas Nigam Limited:
As of November 19, 2024, Rail Vikas Nigam Ltd gained 3.29%, outperforming its sector. Despite short-term gains, MarketsMOJO issued a ‘Sell’ call. While the stock trades above its 200-day average, it underperformed the Sensex in the past month, declining by 10.19%.
Stock performance of Rail Vikas Nigam Limited for Period of 1 week, 6 months and 1 year:
Rail Vikas Nigam Ltd has delivered robust returns, gaining 0.96% over the past week, 11.8% over six months, and an impressive 152% over the last year, reflecting strong performance and significant investor confidence in the company.
Shareholding pattern of Rail Vikas Nigam Limited:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
| Promoter | 72.80% | 72.80% | 72.80% |
| FII | 5.10% | 3.10% | 2.30% |
| DII | 6.30% | 6.80% | 6.20% |
| Public | 15.80% | 17.30% | 18.70% |
About the company Rail Vikas Nigam Limited:
Rail Vikas Nigam Limited ( NSE: RVNL) is a leading engineering and construction company under the Ministry of Railways. Specializing in infrastructure development, RVNL focuses on railway projects, including tracks, bridges, and electrification, contributing significantly to India’s transportation sector.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
