RVNL shares gain focus after signing MoU with Dubai-based GBH International
The stock has declined 15% over the past six months but gained 475% in the last two years. The company’s market capitalization stands at Rs 86,830 crore
RVNL shares gain focus after signing MoU with Dubai-based GBH International
State-owned Rail Vikas Nigam Ltd (RVNL) shares will gain limelight on Wednesday, January 7, after the company signed a memorandum of understanding (MoU) with GBH International Contracting LLC (GBHIC), a Dubai-based firm, to collaborate on civil infrastructure projects in the Gulf Cooperation Council (GCC) region.
"This is to inform you that Rail Vikas Nigam Limited (RVNL) has signed a MoU with M/s GBH International Contracting LLC (GBHIC), a Dubai, United Arab Emirates-based Company," RVNL said in an exchange filing.
Earlier, the company had signed an MoU with Visakhapatnam Port Authority (VPA) for ‘Construction of internal flyovers to enhance the smooth evacuation of cargo and eliminate the 11-level crossings that currently hinder the free flow of traffic at VPA’.
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Currently, the shares of the RVNL are trading in the green zone above 1%. While, on Tuesday Tuesday, RVNL shares closed at Rs 416.4, up 1.5% on the BSE, while the benchmark Sensex surged 0.3%.
The stock has declined 15% over the past six months but gained 475% in the last two years. The company’s market capitalization stands at Rs 86,830 crore
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