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RVNL gains on MoU for developing railwaing corridor in Kyrgyz Republic

Capital Market 

Rail Vikas Nigam rose 2.68% to Rs 34.45 after the company said that it has entered into an MoU with Economic Policy Research institute of KYRGYZ Republic, Govt of Kyrgyzstan for development of Railway corridor Projects in Kyrgyz Republic.

The projects aim to connect Bishkek to Karakechenskoye .

"Both parties will exchange the information(s) and promote the implementation of Railway Project, RVNL said in a statement.

Rail Vikas Nigam (RVNL) is an organization associated with Indian Railways involved in building rail infrastructure required by the railways. As of 30 June 2021, the Government held 78.2% stake in the company.

The company's consolidated net profit rose 48.71% to Rs 279.24 crore on a 26.50% increase in net sales to Rs 4025.82 crore in Q2 FY22 over Q2 FY21.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, December 01 2021. 09:24 IST