PSU Stock surges over 4.5%: Rail Vikas Nigam secures major order of Rs 730 crore from HPSEBL
The project is to be completed within 24 months, as stated in an exchange filing.
PSU Stock surges over 4.5%: Rail Vikas Nigam secures major order of Rs 730 crore from HPSEBL
The state-owned railway and construction firm Rail Vikas Nigam Ltd. declared on Tuesday, March 4, 2025, that the Himachal Pradesh State Electricity Board had placed an order with them for Rs 730 crore.
The order is for the development of distribution infrastructure in the central zone of Himachal Pradesh under the Revamped Reforms-based and Results-linked Distribution Sector Scheme. The project is to be completed within 24 months, as stated in an exchange filing.
“It is hereby informed that Rail Vikas Nigam Limited has received a Letter of Acceptance from HPSEBL for the Development of Distribution Infrastructure at the CENTRAL ZONE of Himachal Pradesh under the Revamped Reforms-based and Results-linked Distribution Sector Scheme (Loss Reduction Work),” the public sector company informed in its exchange filing.
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Additionally, the company has informed that it has received a letter of acceptance (LoA) from Central Railway for a Rs 135.66-crore contract involving the design, supply, erection, testing, and commissioning of 132/55 KV traction substations, sectioning posts (SPs), and sub-sectioning posts (SSPs) in the Bhusaval-Khandwa section.
The rail PSU stock has experienced a correction of nearly 24%. However, it still boasts a positive one-year return, with gains exceeding 34%. The stock has declined almost 50% from its peak price of Rs 647, which it reached last August. Currently, the shares are up by more than 4.5%, trading at Rs 341.00.
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