RVNL shares rise—here is what is driving the stock
RVNL new project: Rail Vikas Nigam Ltd, NSE: RVNL shares gained in Wednesday's trade (January 3, 2024) after the joint venture KRDCL-RVNL received a Letter of Acceptance (LOA) from Southern Railway for a major redevelopment of the Varkala Sivagiri Railway Station.
![RVNL shares rise—here is what is driving the stock](https://cdn.zeebiz.com/sites/default/files/2024/01/03/274971-untitled-design-26.jpg?im=FitAndFill=(1200,900))
RVNL share price NSE, RVNL new project: Rail Vikas Nigam Ltd, NSE: RVNL shares gained in Wednesday's trade (January 3, 2024) after the joint venture KRDCL-RVNL received a Letter of Acceptance (LOA) from Southern Railway for a major redevelopment of the Varkala Sivagiri Railway Station. The order is worth over Rs 123 crore. The counter rose as much as three per cent to hit the day's high of Rs 186.35 in early morning deals on the NSE. RVNL shares finished 2.65 per cent higher at Rs 185.6 on NSE.
Here are some key details of the order:
- Name of the entity awarding the order(s) or contract(s): CAO-CN-ERS-Engineering
- Time by which the order(s) or contract(s) is to be executed: 30 months
- Nature of order(s)/contract(s): Major upgradation/redevelopment of Varkala Sivagiri Railway Station
In a separate development, RVNL informed bourses on January 2 that it had signed an MoU with REC Limited for mutual benefits by way of RVNL presenting bankable projects with an assured or projected source of revenue/returns, and REC exploring the scope and spread of providing finances to such projects directly with pre-stipulated conditions and returns for itself.
RVNL share price history
RVNL's stock has given a positive return of over 150 per cent in the last 12 months. In comparison, the headline index Nifty 50 has rallied over 19 per cent.
.For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
![https://www.zeebiz.com/markets/stocks/photo-gallery-this-tata-group-stock-turned-every-rs-10000-of-investment-into-rs-11300-in-just-a-week-investors-richer-by-42722-crore-rupees-any-guesses-share-market-news-304023](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/07/26/307143-tradingpexels.jpg?itok=rw4R7EfH)
A Tata group stock just turned every Rs 10,000 of investment into Rs 11,300 in just a week, investors richer by Rs 42,722 crore; any guesses?
![https://www.zeebiz.com/markets/stocks/photo-gallery-large-cap-midcap-stocks-shares-to-buy-for-long-term-check-out-targets-nifty-sensex-303617](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/07/25/306716-stockks.jpg?itok=KJTrFUIK)
Stocks to buy for long term: Analysts suggest buying these 5 largecap, 4 midcap scrips; check out targets
![https://www.zeebiz.com/personal-finance/photo-gallery-nps-retirement-planning-budget-2024-nirmala-sitharaman-announcement-how-nps-rulebook-change-can-increase-corpus-income-and-monthly-pension-by-40-compound-return-303984](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/07/26/307102-indian-currency-pixabay-take.jpg?itok=kN21EW-9)
How your NPS retirement corpus and monthly pension can jump by 40% after this rule change; get details
![https://www.zeebiz.com/personal-finance/photo-gallery-senior-citizen-savings-scheme-scss-2024-interest-rate-calculator-post-office-how-to-get-inr-rs-50000-interest-retirement-planning-guaranteed-return-maturity-amount-small-savings-303930](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/07/26/307042-fd-interest-file.jpg?itok=45ZbBRWM)
How much investment do you need in this senior citizen scheme to get Rs 50,000 quarterly interest? Know here
03:45 PM IST