Rail Vikas Nigam (RVNL) share price rose 11 percent intraday on May 16 following the company received up-gradation of existing electric traction system contract.
At 11:47am, Rail Vikas Nigam was quoting at Rs 415.60, up Rs 39.70, or 10.56 percent, on the BSE.
".... has received LOA from Central Railway for OHE Modification Work for Up-gradation of existing 1x25 KV Electric Traction System to 2x25 KV at Feeding System in Itarsi - Amla Section in Nagpur Division of Central Railway to meet 3000 MT Loading Target,” company said in its press release.
The cost of said contract is Rs 115,79,37,241.11 and to be executed in 24 months.
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The meeting of the board of directors of the company is scheduled on May 21, 2025 to consider and approve the audited financial results (standalone & consolidated) of the company for the quarter and year ended 31st March, 2025.
The board shall also recommend final dividend, if any for the Financial Year 2024-25.
The share touched a 52-week high of Rs 647.00 and a 52-week low of Rs 280.65 on 15 July, 2024 and 17 May, 2024, respectively.
Currently, the stock is trading 35.77 percent below its 52-week high and 48.08 percent above its 52-week low.
The market capitalisation of the company stands at Rs 86,653.44 crore.
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