{"id":4850,"date":"2024-11-06T11:31:28","date_gmt":"2024-11-06T06:01:28","guid":{"rendered":"https:\/\/lakshmishree.com\/news\/?p=4850"},"modified":"2024-11-06T11:32:15","modified_gmt":"2024-11-06T06:02:15","slug":"rvnl-shares-surge-5-after-emerging-as-lowest-bidder-for-bengaluru-rail-project","status":"publish","type":"post","link":"https:\/\/lakshmishree.com\/news\/rvnl-shares-surge-5-after-emerging-as-lowest-bidder-for-bengaluru-rail-project\/","title":{"rendered":"RVNL Shares Surge 5% After Emerging as Lowest Bidder for Bengaluru Rail Project"},"content":{"rendered":"\n<p>Rail Vikas Nigam Ltd (RVNL) shares climbed 5% on November 6 after the company, along with Rithwik Projects Pvt Ltd (RPPL), emerged as the lowest bidder (L1) for a major contract in the Bengaluru Suburban Rail Project (BSRP). This significant win boosted RVNL\u2019s shares, trading at Rs 467.25 by 9:34 AM, up nearly 4%. Year-to-date, RVNL has delivered impressive gains of 155%, far outperforming the Nifty 50&#8217;s 12% rise.<\/p>\n\n\n\n<p>The awarded contract, valued at Rs 613 crore, comprises part of Package C4A of the BSRP and involves nine stations-one elevated and eight at ground level-along Corridor-4A. Major stations falling under this package include Heelalige, Singena Agrahara, Carmelaram, Bellandur, Marathahalli, and Doddanakundi. The project, apart from others, also includes intensive civil, structural, architectural, and electrical work, with a completion timeline of 24 months. The joint venture between the two, namely RVNL and RPPL, shall be divided in a majority shareholding ratio of 51:49, with the majority share lying with RVNL itself.<\/p>\n\n\n\n<p>Despite this positive momentum, RVNL reported a 34.7% drop in net profit for the June quarter to Rs 223.92 crore, and revenue from operations declined by 26.9% to Rs 4,073.8 crore. However, this recent project win may help RVNL stabilize earnings in the upcoming quarters as it plays a pivotal role in developing Karnataka\u2019s rail infrastructure.<\/p>\n\n\n\n<p>Do you have a news tip for Lakshmishree reporters? Please email us at <a>media@lakshmishree.com<\/a><\/p>\n\n\n\n<p><sub><sup>Source: <a href=\"https:\/\/www.moneycontrol.com\/news\/business\/markets\/rvnl-emerges-as-lowest-bidder-for-bengaluru-rail-project-shares-climb-5-12859072.html\" data-type=\"link\" data-id=\"https:\/\/www.moneycontrol.com\/news\/business\/markets\/rvnl-emerges-as-lowest-bidder-for-bengaluru-rail-project-shares-climb-5-12859072.html\" target=\"_blank\" rel=\"noopener\">Moneycontrol<\/a><\/sup><\/sub><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rail Vikas Nigam Ltd (RVNL) shares climbed 5% on November 6 after the company, along with Rithwik Projects Pvt Ltd (RPPL), emerged as the lowest bidder (L1) for a major contract in the Bengaluru Suburban Rail Project (BSRP). This significant win boosted RVNL\u2019s shares, trading at Rs 467.25 by 9:34 AM, up nearly 4%. Year-to-date, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4851,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[50],"tags":[632],"class_list":["post-4850","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-indian-market","tag-rvnl-lowest-bid"],"_links":{"self":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/4850","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/comments?post=4850"}],"version-history":[{"count":2,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/4850\/revisions"}],"predecessor-version":[{"id":4853,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/4850\/revisions\/4853"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/media\/4851"}],"wp:attachment":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/media?parent=4850"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/categories?post=4850"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/tags?post=4850"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}