RVNL Shares Rise to a Record High on New Order

Monday saw a new 52-week high of Rs 647 per share for Rail Vikas Nigam Limited (RVNL) shares, rising as much as 3.26% percent. The company’s share price increased following receiving a Letter of Acceptance (LoA) from Central Railway for OHE modification work in the Nagpur division. The project is valued at Rs 132.6 crore. In the upcoming 24 months, the order will be carried out.

• For the fourth quarter that ended on March 31, 2024 (Q4FY24), the state-owned corporation recorded a 33.2% year-over-year gain in profit, which increased from Rs 359 crore in the same quarter the previous year (Q4FY23) to Rs 478.6 crore.
• Comparing Q4FY24 to Q4FY23, its revenue increased 17.4% to Rs 6,714 crore from Rs 5,719.8 crore.

About Rail Vikas Nigam Limited

The firm was founded in 2003 and is actively involved in the development and implementation of different railway projects, including the construction of new lines, doubling of tracks, gauge conversion, electrification, metro projects, bridges, and institutional structures. It also provides services for mobilizing financial resources to support its projects. Indian Railways, as well as federal and state government ministries and departments, as well as public sector initiatives, are among the clients served by Rail Vikas Nigam Limited.

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