Rail Vikas Nigam share price fell nearly 2 percent in the opening trade on February 11 despite the company emerged as the lowest bidder (L1) for a project worth Rs 355.43 crore of South Western Railway.
At 09:22am, Rail Vikas Nigam was quoting at Rs 375.10, down Rs 6.20, or 1.63 percent, on the BSE.
The project included survey, design, supply, installation, testing and commissioning for KAVACH equipment and other associated works over 790 RKM of Hubballi & Mysuru Divisions of South Western Railway.
The said order is to be executed in 18 months.
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On February 7, the company won project worth Rs 210.78 crore from South Eastern Railway for design, supply, erection, testing and commissioning for upgradation of electric traction system from 1 x 25 KV to 2 x 25 KV traction system for Kharagpur (Excl.)- Tatanagar (Incl.) section of Kharagpur/Chakradharpur division of South Eastern Railway to meet 3000 MT loading target.
On February 4, company received the Letter of Acceptance (LoA) for a project worth Rs 404.40 crore from the East Coast Railway.
A meeting of the board of directors of the company is scheduled to be held on February 12, 2025, to consider, approve and take on record the unaudited financial results (standalone and consolidated) of the company for the quarter and nine months ended December 31, 2024.
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