Rail Vikas Nigam Interim Dividend Record Date:
Rail Vikas Nigam, a public sector enterprise with Miniratna status, has a track record of developing and implementing rail infrastructure projects. The company has consistently performed well in Railway PSE rankings and has declared impressive dividends over the years. In this news blog, we’ll delve into RVNL’s recent announcements and updates.
RVNL’s Miniratna Status and Success in Railway PSE Rankings
Since September 2013, RVNL has been working on developing, funding, and implementing rail infrastructure projects. The company has been awarded Miniratna status and has ranked first among Railway PSEs four times in the past five years. This success is a testament to RVNL’s commitment to improving rail infrastructure in the country.
RVNL Board of Directors to Consider Interim Dividend for FY 2022-23
RVNL has announced that a meeting of the Board of Directors of the Company is scheduled to be held on Friday, 24th March 2023, to consider and approve the Interim Dividend for the financial year 2022-23. If approved, the ‘RECORD DATE’ for payment of Interim Dividend would be 6th April, 2023. The Trading Window for designated persons and their immediate relatives shall remain closed from 22nd March, 2023, to 26th March, 2023.
RVNL Announces 18.30% Equity Dividend for FY 2021-22
Rail Vikas Nigam has announced an equity dividend of 18.30% at face value of ₹10, or ₹1.83 per share, for the fiscal year that ended in March 2022. The company has a solid track record of dividend declarations during the past five years, having announced six dividends since September 6, 2019. At the current share price of ₹63.75, this generates a dividend yield of 2.87%.
TTIPL-RVNL Consortium Emerges as Lowest Bidder for NHAI Project
RVNL, in a stock exchange filing on Monday, announced that the TTIPL-RVNL Consortium (Tracks & Towers Infratech Pvt. Ltd. -Rail Vikas Nigam Limited) has emerged as the Lowest Bidder (L1) for NHAI Project of “6-lane Greenfield Varanasi-Ranchi-Kolkata Highway from Sonepurbigha village to junction with NH-22 (Chatra Bypass) near Chatra from km 184.700 to km 222.000 under Bharatmala Pariyojana in the State of Jharkhand on Hybrid Annuity Mode (Package-8).” The project cost is Rs. 1271.99 Crore (TTIPL Share is 51% and RVNL Share is 49%).
RVNL Stock Closes Down 1.32%, Records Impressive Volume and 52-Week High The shares of RVNL closed today on the NSE at ₹63.75 apiece level, down by 1
About RVNL:
RVNL was Incorporated in 2003 by the Govt. of India, it is engaged in the business of implementing various types of Rail infrastructure projects assigned by MoR including doubling, gauge conversion, new lines, railway electrification, major bridges, workshops, Production Units and sharing of freight revenue with Railways as per the concession agreement entered into with Ministry of Railway.
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