Rail Vikas Nigam (RVNL) gained 2.79% to Rs 63.66 after the company announced that it was the low bidder (L1) for supply, installation, testing, and commissioning work in Jabalpur for Rs 111.85 crore. The scope of the order includes the supply, installation, testing, and commissioning of 11 KV line bifurcation, line interconnection, line conductor augmentation, LT AB cabling augmentation, and conversion of LT bare conductor to AB cabling in the MPPKVVCL’s Sidhi, Singrauli, Sagar, Damoh, Chhatarpur, Panna, and Tikamgarh Circles in the Jabalpur company area. The project will cost Rs 111.85 crore.
Rail Vikas Nigam is in the business of completing all types of railway projects, such as new lines, doubling, gauge conversion, railway electrification, metro projects, workshops, major bridges, cable stayed bridge construction, institution buildings, and so on. The government owned 78.2% of the company as of December 31, 2022. In Q3 FY23, the company reported a 30.5% increase in consolidated net profit to Rs 382.42 crore, up from Rs 293.01 crore in Q3 FY22. Revenue from operations fell slightly to Rs 5,012.09 crore in Q3 FY23, compared to Rs 5,049.24 crore in the same quarter last year.