RVNL Secures ₹202.87 Crore Project from South Eastern Railway

Listen to our Podcast: Grow your wealth and keep it secure.

0:00 / 0:00

Synopsis:

RVNL wins ₹202.87 crore project from South Eastern Railway for a 132 KV traction substation on the Kharagpur-Bhadrak section. The project aims to support 3000 MT traffic capacity. The entire project is scheduled to be completed within an 18-month timeframe.

RVNL News Today

State-owned Rail Vikas Nigam Ltd (RVNL) has emerged as the lowest bidder for a significant project from the South Eastern Railway valued at ₹202.87 crore. This marks a substantial achievement for the railway PSU, further solidifying its role in the national railway infrastructure development.

Project Scope and Details

The awarded project encompasses the design, supply, erection, testing, and commissioning of a 132 KV traction substation, along with sectioning posts (SPs) and sub-sectioning posts (SSPs).

These installations will operate within a 2x25KV system on the Kharagpur-Bhadrak section of the Kharagpur division. The initiative is set to boost the railway's capacity, enabling it to handle 3000 MT of traffic.

The entire project is scheduled to be completed within an 18-month timeframe.

Explore: Rail Vikas Nigam Limited Share Price

Government Stake and Market Capitalisation

As of the March quarter, the Union government holds a 72.84% stake in RVNL. The shareholding pattern for the June quarter is yet to be disclosed. RVNL recently achieved a market capitalization milestone, crossing the ₹1 lakh crore mark.

This makes RVNL only the second railway stock to reach this benchmark, following the Indian Railway Finance Corporation (IRFC). As of June 9, 2024, RVNL's market capitalization stood at ₹1.13 lakh crore.

Market Activity - RVNL Block Deal

Recently, a significant block deal involving Rail Vikas Nigam's stock was executed. Approximately 1.4 crore shares, worth ₹827 crore, changed hands, accounting for 0.7% of the company's total equity. The shares were traded at an average price of ₹585 each.

Strategic Importance

The project win not only highlights RVNL's competitive edge in securing critical railway infrastructure contracts but also aligns with the broader objectives of enhancing railway capacity and efficiency.

By executing this project, RVNL will play a crucial role in meeting the growing demands of railway traffic and supporting the overall development of the South Eastern Railway network.

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

Share this article: 

Read More Blogs

Our Secure Trading Platforms

Level up your stock market experience: Download the Bajaj Broking App for effortless investing and trading

Bajaj Broking App Download

7.5 Lacs+ Users

icon-with-text

4.3+ App Rating

icon-with-text

4 Languages

icon-with-text

₹4300 Cr MTF Book

icon-with-text