RVNL shares jump 8%, hit 52-week high on winning order from Nagpur Metro
In Monday's trading on the BSE, shares of Rail Vikas Nigam (RVNL) surged 8%, reaching a new 52-week high of Rs 399.7. This increase followed the company's success in securing the lowest bid for a project by the Maharashtra Metro Rail Corporation (Nagpur Metro).
of () jumped 8% to hit a new at Rs 399.7 in Monday's trade on after the company emerged as the for a by ()."Rail Vikas Nigam Limited emerges as the lowest bidder (L1) from Maharashtra Metro Rail Corporation Limited (Nagpur Metro) for “construction of 6 Nos (Cantonment, Kamptee Police Station, Kamptee Municipal Council, Dragon Palace, Golf
Club and Kanhan River Metro Station) between Ch. – 7576.78mm to Ch - 13457.76m in Reach 2B of ," the company said in an exchange filing.
The project, valued at Rs 187.34 crore, is to be completed within 30 months.
At 10:25 am, the scrip was trading 3.87% higher at Rs 384.7 on BSE. The stock has also surged over 110% year-to-date, while it has gained 230% in the past one year.
Also Read:
Earlier last week on Monday, the company received a letter of acceptance worth Rs 148.26 crore from SER HQELECTRICAL/South Eastern Railway for design, supply, erection, testing and commissioning for the upgradation of Electric traction system from 1 x 25 KV to 2 x 25 KV traction system for Kharagpur (Excl.)- Bhadrak (Excl.) section of Kharagpur division of to meet 3000 MT loading target.
In Q4 FY24, RVNL reported a 33.2% year-on-year (YoY) jump in net profit at Rs 478.6 crore. In the corresponding quarter in FY23, it had posted a net profit of Rs 359 crore.
The company's revenue from operations increased 17.4% to Rs 6,714 crore against Rs 5,719.8 crore in the corresponding period of the preceding fiscal.
At the operating level, EBITDA rose 21.8% to Rs 456.4 crore in the fourth quarter of this fiscal over Rs 374.6 crore in the year-ago period. The EBITDA margin stood at 6.8% in the reporting quarter compared to 6.6% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
The project, valued at Rs 187.34 crore, is to be completed within 30 months.
At 10:25 am, the scrip was trading 3.87% higher at Rs 384.7 on BSE. The stock has also surged over 110% year-to-date, while it has gained 230% in the past one year.
Also Read:
Earlier last week on Monday, the company received a letter of acceptance worth Rs 148.26 crore from SER HQELECTRICAL/South Eastern Railway for design, supply, erection, testing and commissioning for the upgradation of Electric traction system from 1 x 25 KV to 2 x 25 KV traction system for Kharagpur (Excl.)- Bhadrak (Excl.) section of Kharagpur division of to meet 3000 MT loading target.
In Q4 FY24, RVNL reported a 33.2% year-on-year (YoY) jump in net profit at Rs 478.6 crore. In the corresponding quarter in FY23, it had posted a net profit of Rs 359 crore.
The company's revenue from operations increased 17.4% to Rs 6,714 crore against Rs 5,719.8 crore in the corresponding period of the preceding fiscal.
At the operating level, EBITDA rose 21.8% to Rs 456.4 crore in the fourth quarter of this fiscal over Rs 374.6 crore in the year-ago period. The EBITDA margin stood at 6.8% in the reporting quarter compared to 6.6% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Source: Stocks-Markets-Economic Times
