Rail Vikas Nigam (RVNL) shares climbed more than 1.5% today, trading at ₹586.35 at 10:25 AM on the NSE. The stock’s upward momentum followed after the company signed MoU with Patel Engineering Limited.
As per the filing, the primary goals of the Memorandum of Understanding are to cooperate and create an enabling framework for achieving synergies in the areas concerning hydro and other infrastructure projects, as well as when opportunities occur in India and abroad.
Rail Vikas Nigam began operations in 2005, with the appointment of Board of Directors. The business was granted Miniratna status in September 2013. For the previous nine years in a row, the Department of Public Enterprises rated RVNL as “Excellent”. RVNL has also been named top among Railway PSEs four times in the past five years.
