At 12:40 pm; RVNL traded 8 per cent higher at Rs 73.99, as against 0.12 per cent decline in the S&P BSE Sensex. The stock hit a 52-week high of Rs 84.15 on November 29, 2022.
The average trading volumes on the counter jumped three-fold as around 32.98 million shares changed hands on the NSE and BSE.
On March 31, 2023, RVNL said Letter of Award (LoA) was received from NHAI for the construction of six lane elevated Kona expressway from 0.145 kilometer to 7.337 km of NH-117 in West Bengal on EPC mode. The cost of project is Rs 720.67 crore. The order is to be executed within 910 days.
TTIPL-RVNL Consortium (Tracks & Towers Infratech Pvt. Ltd – Rail Vikas Nigam Limited) received LoA from NHAI for construction of six-lane Greenfield Varanasi- Ranchi-Kolkata Highway from Sonepurbigha village to junction with NH-22 (Chatra Bypass) near Chatra from 184.7 km to 222 km, under Bharatmala Pariyojana in Jharkhand on Hybrid Annuity Mode (Package-8).
The estimated cost of this project is around Rs 1,272 crore and RVNL share is 49 per cent.
In separate exchange filing, RVNL announced it received LoA from Ministry of Railways to manufacture cum maintain Vande Bharat train-sets, including up-gradation of government manufacturing units, and trainset depots.
The total quantity is 120 train-sets and cost per set is Rs 120 crore. This is a joint venture contract and is likely to be completed within 82 months. RNVL share in this contract, meanwhile, is 25 per cent.
RVNL, its subsidiary and joint ventures are engaged in the business of implementing various types of rail infrastructure projects assigned by MoR including doubling (including 3rd/4th lines), gauge conversion, new lines, railway electrification, major bridges, workshops, productin units, and sharing of freight revenue with railways as per the concession agreement entered with the railways ministry.