RVNL shares gain 4% on receiving Rs 404-cr LoA from East Coast Railway

RVNL share price today: Shares of state-owned civil construction company Rail Vikas Nigam (RVNL) were buzzing in trade on Wednesday, February 5, 2025. RVNL shares jumped 4.04 per cent to Rs 416.30 on the National Stock Exchange (NSE) during early trade on Wednesday. The upward move in the RVNL share price follows the company's announcement of receiving a ‘Letter of Acceptance’ from East Coast Railway worth Rs 404.40 crore.

 

RVNL, in a regulatory filing, has informed the bourses that it has "received a Letter of Acceptance from East Coast Railway for the Koraput-Singapur Road Doubling Project: Execution of 27 major bridges (22 major bridges and five ROBs) and earthwork in the formation of approaches, protection works, and other connected miscellaneous works between Tikiri and Bhalumaska stations in connection with the Koraput-Singapur Road Doubling Project of Waltair Division, East Coast Railway."  ALSO READ: Weak demand weighs on Asian Paints Q3; analysts see more pain in near-term

 

Incorporated in 2003, Rail Vikas Nigam (RVNL) is a Government of India entity that develops rail infrastructure. RVNL implements projects assigned by the Ministry of Railways, including doubling, gauge conversion, new lines, electrification, bridges, workshops, and production units. The company undertakes project development, financing, and implementation on a turnkey basis, serving clients such as Indian Railways, central and state government ministries, and public sector undertakings. As of February 5, 2025, RVNL has a market capitalisation of Rs 85,183.50 crore on the NSE.

 

RVNL shares have a 52-week range of Rs 647-213.05 on the BSE.

 

Shares of the state-owned company have yielded a return of 47 per cent in the last one year.

 

At around 9:36 AM, RVNL shares were trading at Rs 413.65, up 3.39 per cent from their previous close of Rs 400.10 on the NSE. A combined total of nearly 3.84 million shares of RVNL, worth approximately Rs 158.15 crore, exchanged hands on the NSE and BSE.

 

Meanwhile, benchmark equity indices BSE Sensex and NSE Nifty50 were trading higher on Wednesday. The Sensex was at 78,612.27, up 28.46 points or 0.04 per cent, while the Nifty50 was trading 40.20 points or 0.17 per cent higher at 23,783.40.