RVNL Secures ₹132 Crore Contract from Central Railways

On Tuesday evening, RVNL announced that it has secured a new contract from Central Railways.

Details: In a filing with the stock exchange on Tuesday, RVNL revealed that it was chosen as the lowest bidder for a project from Central Railways. This project involves modifying the overhead equipment (OHE) to upgrade the current 1 x 25 kilovolt electric traction system to a 2 x 25 kilovolt AT feeding system. The work will be carried out in the Wardha-Ballarshah section of the Nagpur division of Central Railway to achieve a loading target of 3,000 metric tons.

Additional Information: The contract is valued at approximately ₹132.59 crore and is expected to be completed within two years. In the previous month, RVNL announced that it had received a letter of acceptance from North Central Railway for a ₹72.73 crore project. This project, which involves automatic signaling work in the Dhaulpur-Gwalior Section of the Jhansi division, is expected to be completed in 455 days.

Recent Developments: Last week, RVNL also announced the creation of an overseas subsidiary. The company informed the stock exchanges about the establishment of “RVNL Middle East Contracting L.L.C” in Dubai.

Stock Performance: On Tuesday, RVNL’s share price fell by 0.96%, closing at ₹411.

Upcoming News: The government is considering reducing its stake in CONCOR by up to ₹4,700 crore, but divestment plans have been put on hold indefinitely, according to reports.