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RVNL gains on emerging as L-1 bidder for Rs 133-cr railway project | Capital Market News

RVNL added 1.53% to Rs 417.40 after it emerged as the lowest bidder for the up-gradation of electric traction system awarded by the Central Railway for Rs 132.59 crore.

The scope of the order involves the modifying overhead equipment (OHE) modification work for up-gradation of existing 1 x 25 kV electric traction system to a 2 x 25 kV AT feeding system in Wardha-Ballarshah section in Nagpur division of Central Railway to meet 3000 MT loading target.

The cost of the project is Rs 132.59 crore and is expected to be completed in 24 months.

Rail Vikas Nigam is in the business of executing all types of railway projects including new lines, doubling, gauge conversion, railway electrification, metro projects, workshops, major bridges, construction of cable stayed bridges, institution buildings etc.

The company reported 33.16% increase in consolidated net profit to Rs 478.40 crore on 17.38% jump in revenue from operations to Rs 6,714.01 crore in Q4 FY24 over Q4 FY23.

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First Published: Jul 03 2024 | 3:38 PM IST

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