RVNL Share Price Soars with Recent Contracts 📈
RVNL (रेल विकास निगम लिमिटेड) has seen a significant boost in its share price following recent engineering, procurement, and construction contracts. The company recently secured a contract for the redevelopment of the Tiruvananthapuram Central Railway Station, with a total project cost of ₹439.95 crore. The project will be executed as a joint venture, with RVNL holding a 49% stake and KRDCL holding a 51% stake. Completion of the project is expected within the next 42 months.
On Tuesday, April 30, 2024, RVNL’s share closed at ₹286.40, down by 0.83%. However, on Thursday, May 2, 2024, the share price rose by 1.03% to reach ₹289. RVNL has informed SEBI that it placed the lowest bid of ₹239 crore for the South Indian Railway project. The project involves the installation of automatic block signaling systems between Jolarpettai Junction in the Salem division.
The board meeting of RVNL directors is scheduled for May 15, 2024, where they will approve the financial results for the quarter ending in March 2024. The company may also consider declaring the final dividend for the financial year 2023-24, subject to shareholder approval.
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