Rail Vikas Nigam Limited (RVNL) shares rallied 3% to an intraday high of Rs 387.5 on the BSE on Friday, May 16, after the company announced that it has secured a contract worth approximately Rs 159.79 crore from Central Railway.
The project involves OHE modification work for the upgradation of the existing 1x25 KV electric traction system to 2x25 KV at the feeding system in the Itarsi - Amla section in the Nagpur Division of Central Railway to meet a 3000 MT loading target.
The contract, awarded under general contract conditions, will be executed over a period of 24 months. The project falls within the normal course of business for RVNL and is classified as a domestic order.
Additionally, the board of directors of RVNL is scheduled to meet on Wednesday, May 21, to consider the recommendation of a final dividend for the financial year 2024-25, subject to shareholder approval at the Annual General Meeting (AGM).
In a separate development on Thursday, RVNL informed that the company has appointed Surender Singh as a non-official part-time director on its board, effective May 15, 2025.
Also read: Sajjan Jindal Family Trust plans Rs 1,200 crore stake sale in JSW Infra to meet MPS norms
RVNL share price history
For the one-year period, RVNL's shares gained 36.39%, while on a year-to-date (YTD) basis, they declined by 12.13%. Over the last six months, the stock dropped by 10.46%, whereas in the three-month period, it rose by 4.42%. Further, in the one-month period, the stock recorded a gain of 4.14%.
On Thursday, the shares of RVNL closed 0.83% higher at Rs 375.90 on the BSE.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
The project involves OHE modification work for the upgradation of the existing 1x25 KV electric traction system to 2x25 KV at the feeding system in the Itarsi - Amla section in the Nagpur Division of Central Railway to meet a 3000 MT loading target.
The contract, awarded under general contract conditions, will be executed over a period of 24 months. The project falls within the normal course of business for RVNL and is classified as a domestic order.
Additionally, the board of directors of RVNL is scheduled to meet on Wednesday, May 21, to consider the recommendation of a final dividend for the financial year 2024-25, subject to shareholder approval at the Annual General Meeting (AGM).
In a separate development on Thursday, RVNL informed that the company has appointed Surender Singh as a non-official part-time director on its board, effective May 15, 2025.
Also read: Sajjan Jindal Family Trust plans Rs 1,200 crore stake sale in JSW Infra to meet MPS norms
RVNL share price history
For the one-year period, RVNL's shares gained 36.39%, while on a year-to-date (YTD) basis, they declined by 12.13%. Over the last six months, the stock dropped by 10.46%, whereas in the three-month period, it rose by 4.42%. Further, in the one-month period, the stock recorded a gain of 4.14%.
On Thursday, the shares of RVNL closed 0.83% higher at Rs 375.90 on the BSE.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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