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RVNL secures a ₹191.53 crore project to upgrade South Eastern Railway's electric traction system. The project is to be completed in 18 months. RVNL shares rose 0.46% on Wednesday and the market cap hit ₹1.23 lakh crore. .
Rail Vikas Nigam Ltd (RVNL) has announced a significant contract win, receiving a Letter of Acceptance from South Eastern Railway for a project worth ₹191.53 crore. This contract marks a notable milestone for RVNL and reinforces its standing in the infrastructure development sector.
The awarded project involves the design, supply, erection, testing, and commissioning of a 132 KV traction substation, sectioning posts (SPs), and sub-sectioning posts (SSPs) within a 2x25KV system on the Rajkhaswan-Nayagarh-Bolani section of the Chakradharpur division in South Eastern Railway.
The completion timeline for this project is set at 18 months, with the goal of meeting a 3,000 million-tonne loading target.
Explore: Rail Vikas Nigam Limited Share Price
This contract underscores RVNL's capability in handling complex infrastructure projects and aligns with its strategic goals of expanding its footprint in the railway sector. The project is critical for enhancing the efficiency and capacity of the South Eastern Railway, contributing to the broader objectives of Indian Railways.
Following the announcement, RVNL share price saw a modest rise of 0.46% on the BSE. The trading session saw 20.70 lakh shares changing hands, amounting to a turnover of ₹123.21 crore. This positive movement in RVNL stock pushed its market capitalization to ₹1.23 lakh crore.
RVNL shares price has exhibited high volatility over the past year, with a one-year beta of 1.3. The stock's 52-week low was ₹119.75 on July 28, 2023, while it reached a record high of ₹647 on July 15, 2024.
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