RVNL share rises over 1% on winning projects worth Rs 332 crore

The share touched a 52-week high of Rs 146.65 and a 52-week low of Rs 30.55 on 24 July, 2023 and 23 August, 2022, respectively.

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Rail Vikas Nigam Limited (RVNL) share price gained more one percent at 9:31 am after the company received Letter of Award (LOA) for two projects from Madhya Pradesh Poorv Kshetra Vidyut Vitran Company in Jabalpur Company Area.

The total projects cost is Rs 331.62 crore.

The first project is Package-16 for supply, installation, testing and commissioning of new 11 KV lines, LT line on AB cable, distribution transformer substation and supporting works such as DPs, TPs, crossing etc. for separation of 11 KV mix feeders & mix DTRs under revamped reforms based and results-linked distribution sector (Package-16) in Chhatarpur circle of MPPKVVCL, Jabalpur Company Area.

Cost of the said project is Rs 149,63,02,179.

And Package-17 is with same specification in Seoni & Narsinghpur circle of MPPKVVCL, Jabalpur Company Area with cost of Rs 181,99,65,651.

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On July 28, the company had received Letter of Award from Haryana Rail Infrastructure Development Corporation (HRIDC) with cost of project is Rs 10,884,924,938.08.

A meeting of the board of directors of the company is scheduled to be held on August 12, 2023, to consider, approve and take on record the Unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter ended 30th June, 2023.

The share touched a 52-week high of Rs 146.65 and a 52-week low of Rs 30.55 on 24 July, 2023 and 23 August, 2022, respectively.

Currently, the stock is trading 14.35 percent below its 52-week high and 311.13 percent above its 52-week low.

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