RVNL shares upgraded after securing order worth Rs 643 crore from PSPCL

State-run Railway PSU Rail Vikas Nigam (RVNL) shares rose by 1.56% to Rs 442.60 after the company announced that it has emerged as the lowest bidder for a distribution infrastructure development project worth Rs 642.56 crore from Punjab State Power Corporation (PSPCL).

The project involves the development of distribution infrastructure for Package-3 in the central zone for the execution of HT/LT infrastructure loss reduction works under the reforms-based and results-linked revamped distribution sector scheme (RDSS) in Punjab.

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The total project cost is estimated at Rs 642.56 crore and it will be executed within 24 months. In terms of Financials, Rail Vikas Nigam (RVNL) reported a 27.26% decline in consolidated net profit to Rs 286.89 crore on a 1.20% slide in revenue from operations to Rs 4,854.95 crore in Q2 FY25 over Q2 FY24.

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