BAJAJ BROKING
RVNL bags Thiruvananthapuram Central station redevelopment contract at ₹439 crore over 42 months. Recent wins, like the Aurangabad-Ankai doubling project and automatic block signalling, boost confidence amid operating revenue decline in Q3 FY2024, as reflected in its strong stock performance.
Rail Vikas Nigam (RVNL) announced its emergence as the lowest bidder for the redevelopment of Thiruvananthapuram Central railway station, partnering with KRDCL. The project, estimated at ₹439 crore, is set to enhance rail infrastructure in the Southern Railway zone. RVNL's share in the joint venture stands at 49%, as indicated in the exchange filing.
In addition to the Thiruvananthapuram project, RVNL had recently secured another bid for the Aurangabad-Ankai doubling project, with an estimated cost of ₹440 crore. Despite a 6.44% drop in operating revenue and a 6.24% decrease in net profit reported during the third quarter of FY2024, RVNL remains ambitious in its growth plans.
The company targets a topline between ₹20,000 crore and ₹22,000 crore, with an order book aiming at ₹75,000 crore, fueled by new orders worth ₹25,000 crore annually from domestic and international markets.
Explore: Rail Vikas Nigam Limited Share Price
RVNL's stock performance reflects investor confidence, with shares gaining over 55% since the beginning of the year and surging by over 222% in the last year. Moreover, RVNL clinched another project worth ₹239 crore from Southern Railway for the provision of an Automatic Block Signalling (ABS) system. This system enhances safety by controlling train movements automatically, minimising the risk of collisions.
RVNL's relentless pursuit of infrastructure development in the railway sector underscores its commitment to modernising and expanding rail networks. With a strong pipeline of projects and ambitious growth targets, RVNL remains a key player in India's rail infrastructure landscape.
Additional Read: Share Market News
Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.
This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.
For All Disclaimers Click Here: https://bit.ly/3Tcsfuc
Sources:
https://www.cnbctv18.com/business/companies/
rvnl-emerges-lowest-bidder-for-rs-239-crore-southern-railway-abs-project-19401649.htm
https://upstox.com/news/market-news/stocks/rail-vikas-nigam-closes-2percent-higher-after-firm-announces-order-win/
Share this article:
7th Pay Commission Leave Rules & Holidays in India
11 Dec, 2024 | 5 Min. read
Wipro Ltd
11 Dec, 2024 | 7 Min. read
Aditya Birla Group
11 Dec, 2024 | 10 Min. read
What is the Lock-in Period in IPO
11 Dec, 2024 | 6 Min. read
Textile Sector in India
11 Dec, 2024 | 11 Min. read
Step-by-Step Guide to Accessing Your Income Tax Assessment Order Online
11 Dec, 2024 | 3 Min. read
IPO vs FPO vs OFS: Key Differences in How Companies Raise Capital
11 Dec, 2024 | 8 Min. read
Gold Price in India - Gold Prices Edge Higher as Futures Hit $2,654.50
11 Dec, 2024 | 39 Min. read
Indian Overseas Bank Secures ₹1,359 Crore Income Tax Refund for AY 2015-16
11 Dec, 2024 | 2 Min. read
HG Infra Secures ₹899 Crore NH-227B Road Upgrade Project in UP
11 Dec, 2024 | 2 Min. read
NTPC Green Energy Secures 500 MW Solar Project with 250 MW ESS from SECI
11 Dec, 2024 | 2 Min. read
Awfis Space ₹583 Crore Block Deal Launches at ₹680 Floor Price
11 Dec, 2024 | 2 Min. read
RBI Launches ULI: Transforming Loan Access
August 27, 2024 | 4 Min. read
Textile Sector in India
September 20, 2024 | 5 Min. read
List of IPOs with DRHPs Filed
November 30, 2023 | 3 Min. read
Aditya Birla Group
September 28, 2023 | 10 Min. read
Bajaj Housing Finance Ltd IPO: Things Smart Investors Need to Know
September 05, 2024 | 4 Min. read
Budget Stock Ideas 2024-2025 | Stocks to Buy Today
July 24, 2024 | 4 Min. read
IPO Eligibility Criteria : Full Details
March 15, 2024 | 6 Min. read
What Is the Lock-In Period in IPOs?
October 18, 2023 | 6 Min. read
Godfrey Phillips Announces 2:1 Bonus Shares
September 16, 2024 | 7 Min. read
Jindal Group- A Comprehensive Analysis
September 27, 2024 | 7 Min. read
Level up your stock market experience: Download the Bajaj Broking App for effortless investing and trading