Shares of Rail Vikas Nigam Ltd surged 7% on 5 March after the company announced receiving a letter of acceptance (LoA) from HPSEBL for a project worth Rs 729.82 crore.

The project’s goal is to construct distribution infrastructure in the Central Zone of Himachal Pradesh as part of the revamped, results-based distribution sector strategy (Loss Reduction Work).

The contract involves developing distribution infrastructure in Himachal Pradesh’s Central Zone as part of the Revamped Reforms-Based and Results-Linked Distribution Sector Scheme (RDSS). This project focuses on loss reduction efforts, a crucial initiative designed to enhance power distribution efficiency and reduce transmission losses.

The aforementioned work needs to be completed in 24 months.

Earlier on 21 February, the company was South Western Railway’s lowest bidder (L1) for the engineering, procurement, and construction (EPC) of the 2×25 KV OHE & PSI System (TSSs, SPs & SSPs). This project included engineering, telecommunication, and electrical general services between Rayadurga and Topavagada of the TK-RDG Section.

On 18 February, the company received a letter of acceptance (LoA) for a joint venture project worth Rs 554 crore for the Bengaluru Suburban Rail Project (BSRP) in Karnataka.

For the current fiscal year (FY25), the company’s third-quarter net profit was Rs 311 crore, around 13% less than the Rs 359 crore net profit for the third quarter of FY24.

At 12:25 pm, the shares of RVNL were trading 3.60% higher at Rs 337.90 on NSE.

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