Rail Vikas Nigam (RNVL) declared that Southern Railway had sent them a letter of acceptance (LoA) for a construction contract for Rs 110.86 crore.
The directive calls for replacing the balance AFTCs in the MAS-GDR & MSB-TBM automatic block signalling sections of Chennai Division in Southern Railway and installing MSDAC at stations in conjunction with the current DCTC (for dual detection).
The contract is expected to be completed in 18 months and has a total value of Rs 110.86 crore.
Rail Vikas Nigam is involved in the construction of large bridges, cable-stayed bridges, metro projects, new lines, doubling, gauge conversion, railway electrification, workshops, and institution buildings, among other railway projects.
In Q2 FY25 compared to Q2 FY24, Rail Vikas Nigam (RVNL) reported a 27.26% drop in consolidated net profit to Rs 286.89 crore, accompanied by a 1.20% drop in operating revenue to Rs 4,854.95 crore.
The stock closed at Rs 473.75 on the BSE, up 0.09%.
