Rail Vikas Nigam Limited (RVNL) shares increased by as much as 3.57% on Friday, reaching an intraday high of Rs 382 per share. The company’s order from National Thermal Power Corporation (NTPC) for Rs 495 crore caused a rise.
In an exchange filing, RVNL stated, “It is hereby informed that Rail Vikas Nigam Limited has received Letter of Award from National Thermal Power Corporation (NTPC) for Project Execution Agency (PEA) contract for execution of Balance Civil & HM works of Barrage Complex including part HRT package of Rammam Hydro Electric Project Stage-III (3×40 MW).”
As per the contract, RVNL will be in charge of carrying out the balance of the civil & HM works of the barrage complex, as well as the full HRT package of the Rammam hydroelectric project stage-III (3×40 MW).
It is anticipated that the project will be completed in 66 months. Amount of the project: Rs 495,14,16,130.68 crore.
As of 10:30 Am, Rail Vikas Nigam Limited shares jumped 1.55% to Rs.374.50 on NSE.
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