RVNL shares rally 5% on winning Rs 1,826-crore projects

The company received LoA’s from Himachal Pradesh State Electricity Board Ltd for development of distribution infrastructure at South Zone and North Zone of Himachal Pradesh.

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The share price of Rail Vikas Nigam (RVNL) rose 5 percent in early trade on March 11 after the company received Rs 1,826.14-crore work orders.

At 9:25am, Rail Vikas Nigam was quoting Rs 250.90, up Rs 12.90, or 5.42 percent, on the BSE.

The company received the letter of award (LoA) from the Himachal Pradesh State Electricity Board for the development of distribution infrastructure at North Zone of the state under the revamped reforms-based and results-linked distribution sector scheme (loss reduction works).

The total cost of project is pegged at Rs 409.65 crore and it has to be completed in 24 months.

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The company also received a similar order for the south zone of Himachal Pradesh. The total cost of project is Rs 888.56 crore and to be executed in 24 months.

In an another development, the company received the LoA for supply, installation, testing and commissioning of 11 KV Line associated works such as 11 KV Line Bifurcation, 11 KV line Interconnection, 11 KV Line conductor Augmentation, LT AB cabling augmentation and conversion of LT Bare conductor to AB cabling under Revamped Reforms-based and
Results-linked, Distribution sector (Package-11) in Jabalpur (City), Jabalpur (O&M), Katni, Mandla, Dindori, Seoni, Chhindwara, Narsinghpur, Balaghat, Shahdol, Anuppur and Umariya Circles of MPPKVVCL, Jabalpur Company area .

The order is of Rs 251 crore and to be executed in 24 months.

On March 9, the company in joint venture (JV) with URC received Letter of Acceptance (LoA) worth Rs 543 crore from Madhya Pradesh Metro Rail Corporation Limited (MPMRCL).

The project is for part design and construction of elevated viaduct, 5 elevated Metro Rail Stations (viz. Shaheed Bagh, Khajrana Chauraha, Bengali Chauraha, Patrakar Colony & Palasia Chauraha) and Ramp between Chainages 31+755 to 34+898.061 & 3+669.547 to 5+862 for Indore Metro Rail Project, to be completed in 1092 crore. The share of RVNL is 51 percent.