Rail Vikas Nigam Limited (RVNL) share price rose in early trading on August 30 after the company signed a Memorandum of Understanding (MoU) with Patel Engineering.
At 09:21 am, Rail Vikas Nigam quoted Rs 586.60, up Rs 7.25, or 1.25 percent, on the BSE.
The MoU aims to create a cooperative framework for exploring synergies in hydro and other infrastructure projects in India and internationally.
Catch all the market action on our live blogIn addition, RVNL recently emerged as the lowest bidder for a Southern Railway project, providing MSDAC with existing DCTC at stations and replacing remaining AFTCs in certain automatic block signalling sections.
This project, valued at Rs 111.38 crore, is expected to be completed within 18 months.
The company had posted a 35 percent decline in consolidated net profit to Rs 224 crore for the quarter ended June 2024 and revenue declined 27 percent to Rs 4,073.8 crore.
MSCI in its August review had included RVNL inclusion in the India index.
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