Following the announcement that it has received a Letter of Acceptance from Rail Infrastructure Development Company (Karnataka) Limited (K-RIDE), Rail Vikas Nigam Ltd (RVNL) saw a 13% increase in share price during morning trading. ₹554.46 crore is the order consideration.
RVNL Share Price Movement:
As the business reported receiving a Letter of Acceptance from Rail Infrastructure DevelopmentBusinesss (Karnataka) Limited (K-RIDE), Rail Vikas Nigam Ltd (RVNL) saw a 13% increase in early trades on Wednesday. ₹554.46 crore is the order’s broad consideration.
Wednesday’s opening price of ₹332.35 for Rail Vikas Nigam shares on the BSE was marginally less than the closing price of ₹333.10 for the previous day. Following that, the cost of RVNL’s shares rose to intraday highs of ₹376.55, representing gains of over 13% during morning trading.
After receiving a Letter of Acceptance for “Package C4A” from Rail Infrastructure Development Company (Karnataka) Limited (K-RIDE), RVNL announced the markets; this involves building nine stations as part of the Bengaluru Suburban Rail Project, eight of which are other stations and one of which is elevated (BSRP). Heelalige, Singena Agrahara, Ambedkar Nagar, Carmelaram, Bellandur, Marathahalli, Doddanakundi, and Kaggadasapura are among the locations of the BSRP stations. Along with all related work for the Bengaluru Suburban Rail Project, the work includes structural, civil, entry/exit, steel FOB, roof structures, PEB, architectural finishes, E&M, and detailed design and engineering (BSRP).
The order must be completed within the allotted 24-month timeframe. ₹554,46,65,625/- (Rupees five hundred fifty-four crore forty-six lakhs sixty-five thousand six hundred and twenty-five only) is the approximate amount of the order, the project cost, or the overall consideration (excluding the goods and service tax).
According to the corporation, RVNL’s stake in the joint venture, or JV, is as follows:
- Rail Vikas Nigam ( RVNL )= 51%
- Rithwik Projects Pvt. Ltd. (RPPL) = 49%
RVNL’s order flow is still robust, and the order above update bolstered investor confidence, which raised the company’s share price.
