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.

Join PSU Connect on WhatsApp now for quick updates! Click here

Read Also : SECI Seeks Quotations for Rs 2,000 Crore Short-Term Working Capital Credit Facility

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.

Read Also : Growth in bank credit to NBFCs declines sharply to 6.4%: RBI data