The Indian government incorporated Rail Vikas Nigam Ltd. in 2003. Its activities involve carrying out different kinds of rail infrastructure projects given to it by the Ministry of Railways, such as major bridges, workshops, production units, gauge conversion, new lines, doubling, and sharing freight revenue with the Ministry of Railways in accordance with the terms of the concession agreement.
MoU (Memorandum of Understanding)
M/s United Construction Limited, Israel, and Rail Vikas Nigam Ltd. have signed a Memorandum of Understanding (MoU).
Working together on projects in Israel's railway, MRTS, tunnel, road (highway & expressway), bridge, building works, airport, port, irrigation, power transmission and distribution, and solar and wind sectors are just a few of the sectors this partnership hopes to collaborate on, said the exchange filling.
MoU in Africa and the Middle East
Previously, RVNL declared that it and Tatweer Middle East and Africa LLC had signed a Memorandum of Understanding (MoU).
The MoU aims to establish cooperative capacities for the planning and execution of diverse rail-based projects in the European Union and the Middle East and North Africa (MENA) by utilizing RVNL's experience in the railway sector.
In addition, RVNL would provide assistance with digital transformation, smart city design and implementation, and commissioning. It would also provide professional engineering services.
Share performance
The share price of Rail Vikas Nigam Ltd. closed at Rs. 614 on Friday, as opposed to Rs. 586.35 per share on the BSE the day before. With a market valuation of Rs 1,28,020 crore as of right now, the stock has produced an amazing multibagger return of about 415 percent in just one year.
Today, the share price of RVNL opened at Rs 615.00 per share, and the counter plummeted downward by 1.46 per cent, recording a day low of Rs 598.45 per share. The share was trading at Rs 604 per share on the Indian bourses at 9.15 am
After the opening, the share touched a low of Rs 615.00 per share and recovered from a 1.46 per cent downward movement in the opening hours of the Indian bourses.
