Comments
Rail Vikas Nigam Ltd’s shares were up by 12.04 per cent after the company revealed that it has received a Letter of Acceptance from MGVCL for a “Full Turnkey Contract (Design, Supply, and Installation) for the Development of Distribution Infrastructure Work for Loss Reduction at Vadodara, Gujarat under the Revamped Reforms-Based and Results-Linked Distribution Sector Scheme.”
The company reported that it had been awarded a contract by Madhya Gujarat Vij Company Limited. As the project unfolds, it is expected to enhance the distribution infrastructure in Vadodara, aligning with the goals of the Revamped Reforms-Based and Results-Linked Distribution Sector Scheme.
The MGVCL contract is a domestic project and is for a 31-month period. Under this agreement, RVNL will undertake the responsibility of designing, supplying, and installing distribution infrastructure to reduce losses in the Vadodara district. The project cost amounts to ₹322 crore.
The shares were up by 12.04 per cent to ₹154.90 at 10.20 am on the BSE.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.