RVNL shares rise 5% on winning project worth Rs 729.8 crore from HPSEBL

Rail Vikas Nigam

Rail Vikas Nigam share price rose 5 percent intraday on March 5 after the company received letter of acceptance (LoA) from HPSEBL of Rs 729.82 crore.

At 10:28am ,Rail Vikas Nigam was quoting at Rs 342.30, up Rs 16.15, or 4.95 percent, on the BSE.

The project is for development of distribution infrastructure at Central Zone of Himachal Pradesh under the revamped reforms-based and results-linked, distribution sector scheme (Loss Reduction Work).

The said work is to be completed in 24 months.

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On February 21, the company emerged as the lowest bidder (L1) from South Western Railway for engineering, procurement and construction (EPC) for design, supply, erection, testing, commissioning of 2x25 KV OHE & PSI System (TSSs, SPs & SSPs) including electrical general services, engineering & telecommunication works between Rayadurga - Topavagada of TK-RDG Section

On February 18 company received a letter of acceptance (LoA) for a joint venture project worth Rs 554 crore for the Bengaluru Suburban Rail Project (BSRP) in Karnataka.

The company had reported a net profit of Rs 311 crore for the third quarter of the current financial year (FY25), marking a fall of nearly 13 percent from the Rs 359 crore net profit reported in Q3 of FY24.

Company's revenue from operations declined nearly 3 percent year-on-year to Rs 4,567 crore in Q3 FY25.