Rail Vikas Nigam Limited (RVNL) witnessed a nearly 2% rise in its shares during Tuesday’s market session, fueled by the company clinching new orders valued at Rs 543 crore for the development of five Elevated Metro Rail Stations.
According to regulatory filings, RVNL emerged as the lowest bidder for the design and construction of an Elevated Viaduct, along with five Elevated Metro Rail Stations named Shaheed Bagh, Khajrana Chauraha, Bengali Chauraha, Patrakar Colony, and Palasia Chauraha, and a Ramp between Chainages 31+755 to 34+898.061 & 3+669.547 to 5+862 for the Indore Metro Rail Project. The Madhya Pradesh Metro Rail Corporation awarded the project, which is slated to be completed in 1092 days.
RVNL, established as a Public Sector Undertaking, holds the mandate to successfully undertake and execute project development, financing, and implementation related to rail infrastructure. The company’s shares experienced a notable uptick on December 11, surging by 4.12% to close at Rs 178.25 apiece, closely approaching the day’s high of Rs 180.65 apiece. With a market cap of Rs 37,165.48 crore, the stock is closing in on its 52-week high of Rs 199.35 apiece.
Year-to-date, RVNL’s stock has witnessed an impressive surge of 160.03%. From its 52-week low of Rs 56.15 apiece, the stock has recorded a substantial gain of 217%. In the fiscal year 2023, RVNL demonstrated its commitment to shareholders by paying a dividend of up to 21.30%, amounting to Rs 2.13 per share. As of 9:57 am, the shares were trading 1.79% higher at ₹181.55, reflecting the positive market sentiment surrounding RVNL’s recent project win.
