Rail Vikas Nigam (RVNL) rose 1.39% to Rs 76.50 after the company received letter of award from Southern Railway for provision of automatic block signalling with dual MSDAC, EI/OC Interface and block optimization in Arakkonam Junction- Nagari in Chenn
The cost of project is Rs 38.40 crore and it is expected to be completed within 15 month.RVNL is engaged in the business of implementing various types of Rail infrastructure projects assigned by MoR including doubling (including 3rd/4th lines), gauge conversion, new lines, railway electrification, major bridges, workshops, production units and sharing of freight revenue with Railways as per the concession agreement entered into with Ministry of Railway.
The company's consolidated net profit jumped 36.5% to Rs 381.22 crore on 21.9% rise in net sales to Rs 4,908.90 crore in Q2 FY23 over Q2 FY22.
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