RVNL Share Price jumps 3% after it received an order cost ₹ 739 Cr from HP State Electricity Board
RVNL after receiving an order for more than Rs 739.07 crores from Himachal Pradesh State Electricity Board Limited (HPSEBL) for the enhancement of distribution infrastructure, RVNL share price increased by about 3% to an intraday high of Rs 626.65 per share from its previous close. The order is expected to be executed within twenty-four months.
Rail Vikas Nigam (RVNL) declared last week that it had secured an order worth ₹191 crore from the South Eastern Railway for the design, supply, installation, testing, and commissioning of sectioning posts and sub-sectioning posts in a 2×25 KV system, as well as 132 kilovolt (KV) traction substation.
An engineering, procurement, and construction (EPC) approach will be used to complete the order. The order is expected to be completed in eighteen months and will be implemented on the Rajkhaswan-Nayagarh-Bolani segment of the South Eastern Railway’s Chakradharpur division.
In order to secure and advance projects in Israel, RVNL also inked a Memorandum of Understanding with United Construction, Israel. Railways, metro rail transit systems, tunnels, roadways, bridges, construction projects, airports, and other infrastructural developments are all covered under the MoU. The businesses will also cooperate on creating wind and solar energy projects in Israel.
In order to resolve a dispute with the Ministry of Railways, the tribunal granted ₹584.22 crore to RVNL’s special purpose entity, Krishnapatam Railway Corporation (KRCL). RVNL is the 49.75% owner of KRCL.
Rail Vikas Nigam Limited’s borrowings decreased by 6.3% from Rs 6,441 crores to Rs 6,033 crores between finance year 23 and finance year 24. The company’s cash flow from operations also changed throughout that time, going from negative to positive at Rs 2,939 crores from Rs 4,080 crores.
The promoters of Rail Vikas Nigam Limited held 72.84 percent of the company as of June 2024, followed by international institutional investors with a 3.13 percent interest and domestic institutional investors with a 6.77 percent share. Under the DII, LIC India has held a 6.44 percent share in the company for the same period.
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