Rail Vikas Nigam has recently informed the exchanges that it has signed MoU with Patel Engineering Limited.
As per the filing, the main objectives of the MoU are to “cooperate and create an enabling framework for achieving synergies in the areas concerning Hydro and other infrastructure Projects and as when opportunities arise in India and Overseas.”
Rail Vikas Nigam started its operation in 2005, with the appointment of Board of Directors. The company received Miniratna status in September 2013. The Department of Public Enterprises has rated RVNL “Excellent” for the past nine years in a row. Additionally, RVNL has been ranked first among Railway PSEs four times in the last 5 years.
In the meantime, Rail Vikas Nigam shares were down 0.086% at Rs 578.15 on the BSE today (August 29).
