Rail Vikas Nigam Limited has informed the Exchange regarding 'LOA received from Southern Railway- Normal course of business of the Company'.
RVNL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Rail Vikas Nigam Limited (RVNL) has received a Letter of Award from Southern Railway for upgradation of the electric traction system from 1x25 kV to 2x25 kV on the Salem Jn.–Podanur Jn. and Irugur–Coimbatore Jn.–Podanur Jn. section in Salem division, aimed at meeting a 3000 MT loading target. The work is valued at Rs 143.37 crore (including taxes) and is to be completed within 24 months. The order is domestic, not a related-party transaction, and the promoter group has no interest in the awarding entity. RVNL has stated this is part of its normal course of business.
This is a routine order win for RVNL, adding Rs 143 crore to its order book. At less than 1% of the company's annual revenue, it is unlikely to move the stock meaningfully on its own, but is consistent with RVNL's steady project pipeline from Indian Railways.