URL copied to clipboard

Trending News

RVNL Shares Rise 5% After Securing ₹6,000 Crore Contracts, Including Major BSNL Bharat Net Project; Check Details

Rail Vikas Nigam Ltd (RVNL) shares rose 5% after securing contracts worth ₹6,000 crore, including a ₹5,008 crore BSNL deal for Bharat Net infrastructure development and 10-year maintenance through a consortium.
RVNL Shares Rise 5% After Securing ₹6,000 Crore Contracts, Including Major BSNL Bharat Net Project; Check Details

Shares of Rail Vikas Nigam Ltd (RVNL) surged nearly 5% in early trading on November 5 after securing multiple contracts totaling ₹6,000 crore from various entities. Among these, the largest order, valued at ₹5,008 crore, was awarded by Bharat Sanchar Nigam Ltd (BSNL) for a consortium of RVNL, HFCL, and Aerial Telecom Services Ltd. This contract involves developing, upgrading, and maintaining the middle-mile infrastructure of Bharat Net over a 3-year period, followed by 10 years of maintenance, with a structured remuneration plan.

Alice Blue Image

Also Read: Q2 Results Today: Tata Steel, Power Grid, Apollo Hospitals to Announce Earnings on November 6

The BSNL contract divides maintenance fees as 5.5% of the capex for the first five years and 6.5% for the remaining five. However, the exact share of the ₹5,008 crore among consortium members has yet to be determined.

In addition, RVNL won a ₹613 crore contract from the Rail Infrastructure Development Company (Karnataka) to construct nine stations in the Bangalore Suburban Railway Project (BSRP) corridor 4A. This contract will be executed through a joint venture, with RVNL holding a 51% stake and Rithwik Projects Ltd 49%.

Also Read: Stocks to Watch: Cautious Market Opening on Nov 6, Dozens of Stocks in Focus; Check Out the List!

Another order, valued at ₹837 crore, was awarded to an RVNL-SCPL joint venture by Eastern Railway for multi-tracking and infrastructure development. Additionally, RVNL secured orders worth ₹283 crore and ₹186 crore from East Coast Railway.

Alice Blue Image

This series of wins boosted RVNL’s stock by 4.7% to ₹472 on the NSE, with shares showing an impressive 140% YTD return and 188% annual gain.

Loading
Read More News