RVNL JV wins project worth Rs 438.95 crore from Southern Railway; shares trade flat
RVNL JV wins project worth Rs 438.95 crore from Southern Railway; shares trade flat
Rail Vikas Nigam (RVNL) share price was trading marginally lower on April 30 despite the company’s JV receiving a Letter of Acceptance (LoA) from Southern Railway.
At 09:52am, Rail Vikas Nigam was quoting at Rs 288.45, down Rs 0.35, or 0.12 percent, on the BSE.
KRDCL- RVNL JV received an LoA from Southern Railway for the redevelopment of Thiruvananthapuram Central Railway station on engineering, procurement and construction (EPC) mode.
In the JV, KRDCL’s share is 51 percent while RVNL holds the remaining 49 percent.
The project is set to cost Rs 438.95 crore and is scheduled to be completed in 42 months.
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A meeting of the board of directors of the company will be held on May 15, 2024 to consider, approve, and take on record the audited financial results (standalone and consolidated) of the company for the fourth quarter and year ended 31st March, 2024, and to recommend final dividend, if any, for the FY 2023-24 subject to approval of shareholders at the Annual General Meeting (AGM).
On April 24, the said JV emerged as the lowest bidder (L1) for the project worth Rs 438.95 crore from Southern Railway for redevelopment of Thiruvananthapuram Central Railway Station on EPC mode.
Also, RVNL emerged as the lowest bidder for a projet worth Rs 239.09 crore for the provision of automatic block signalling system in Jolarpettai Junction to Erode Junction of Salem Division in Southern Railway.