Shares of Rail Vikas Nigam Ltd (RVNL) were trading in the green and 1% higher on 30 April after the company’s joint venture received a letter of Acceptance (LoA) from Southern Railway.  

In its regulatory filing, the company’s JV KRDCL—RVNL has received an LoA for the redevelopment of the Thiruvananthapuram Central Railway station in engineering, procurement, and construction (EPC) mode, which is estimated to cost Rs 438.95 crore and must be completed in 42 months. 

In this joint venture, KRDCL owns 51% of the stake, and RVNL owns the remaining 49%.

The audited financial statements (consolidated and standalone) for the fourth quarter and year ending March 31, 2024, will be discussed, approved, and recorded by the company’s board of directors during a May 15, 2024 meeting. In addition, the board will suggest any final dividends for the fiscal year 2023–2024; these will need to be approved by shareholders at the Annual General Meeting (AGM).

Furthermore, the company emerged as the lowest bidder for a Rs 239.09 crore project that included the automatic block signalling system from Jolarpettai Junction to Erode Junction of the Southern Railway.

At 3:30 pm, the shares of RVNL shed all its early gains and closed 0.83% lower at Rs 286.40 on NSE.