Miniratna Stock Hits 5% Upper Circuit on Bagging Rs 1,544 Crore Order
By Malvika Gurung
Investing.com -- Shares of the state-owned railway company Rail Vikas Nigam (NS: RAIV ) Limited jumped 5% and hit an upper circuit on Wednesday’s intraday trade as the company received an order worth over Rs 1,500 crore by an international entity.
The Miniratna CPSE received a Letter of Award (LOA) on Tuesday, Dec 27, appointed as the Project Implementation Agency for the implementation of the UTF Harbor Project in Maldives, which is a strategic project of the Indian Government.
The project cost stands at Rs 1,544.6 crore and is to be executed within 24 months.
As per the details of the order, the entity awarding the contract is the Ministry of External Affairs (MEA) and has been awarded by an international entity.
Last week, the mid-cap PSU was awarded a contract for the construction of Bhesan Depot cum Workshop by the Gujarat Metro Rail Corporation (GMRC) for a cost of Rs 198,93,34,549.77.
The terms of the project included the construction of the Bhesan Depot and Workshop that includes DDC, BCC and associated E&M works under Corridor- C2, Bhesan to Saroli, for Surat Metro Rail Project Phase-1, DC 2. The duration of the project is 20 months.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.
Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb
Drop an image here or