RVNL soars after emerging as L-1 bidder for Madhya Pradesh-based project

Rail Vikas Nigam (RVNL) surged 10.88% to Rs 254.80 after the company said that it has emerged as the lowest bidder (L1) for a project worth Rs 106.37 crore floated by the Madhya Pradesh Paschim Kshetra Vidyut Vitran Company.

This contract involves a comprehensive upgrade and expansion of the power distribution network in Jhabua district, Madhya Pradesh.

The scope of the project comprises of installation of a new 11 KV line for bifurcation and interconnection; construction of an additional 11 KV bay at a 33/11 KV substation; upgrading conductors of existing 33 KV and 11 KV lines; establishing additional distribution transformer substations with associated new 11 KV lines; replacing bare low-tension (LT) lines with aerial bundled (AB) cables; upgrading existing LT AB cables and covering overhead 11 KV lines crossing agricultural and non-agricultural feeders; and renovating 11 kV and 33 kV bus bars and undertaking related support works. The project has to be executed within a period of 24 months.

This project, part of the Revamped Reforms-based and Results-linked, Distribution Sector Scheme, aims to improve the reliability and efficiency of power distribution in Jhabua district.

Rail Vikas Nigam is in the business of executing all types of railway projects including new lines, doubling, gauge conversion, railway electrification, metro projects, workshops, major bridges, construction of cable stayed bridges, institution buildings etc.

The civil construction company reported 6.24% decline in consolidated net profit to Rs 358.57 crore in Q3 FY24 from Rs 382.42 crore in Q3 FY23. Revenue from operations fell by 6.44% year on year (YoY) to Rs 4,689.33 crore in the third quarter of FY24.

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