RVNL-Led Consortium Bags Another Major Contract From BSNL Worth ₹1,917 Cr
Take Stock Of The Week Ahead

Get all the latest Share Market trends and news to set you up for the week ahead.

Congratulations!
You have successfully subscribed.

A consortium led by Rail Vikas Nigam Limited (RVNL), HFCL Limited, and Aerial Telecom Solutions has been declared the lowest bidder for a project from Bharat Sanchar Nigam Limited (BSNL).

What Happened: The project, to be executed over three years, involves the development, upgradation, and operation & maintenance of the middle mile network of Bharat Net on a Design Build Operate and Maintain (DBOM) model. The contract, estimated at ₹1917.39 crore, includes a 10-year maintenance agreement following the construction phase.

See Also: Sagility IPO Day 2: GMP Now At 0.75, Subscription Reaches 0.50 Times

This is the second major order from the telecom company to the RVNL-led consortium. On Tuesday, RVNL, along with HFCL Limited and Aerial Telecom Solutions Pvt. Ltd., bagged a massive ₹5,000 crore project from BSNL.

This win comes on the heels of a series of successful bids by RVNL. On November 5, 2024, a joint venture between RVNL and Rithwik Projects Pvt. Ltd. was announced as the lowest bidder for a rail infrastructure project in Karnataka, worth ₹613 crore.

The company will be posting its earnings for the quarter ended September on November 7.

Price Action: RVNL’s share price was up 4.16% to close at ₹469.65 on Wednesday.

Read Next: RITES Q2: Net Profit Down 25% To ₹82.5 Cr, Shares In Red


Engineered by Benzinga Neuro, Edited by Utkarsh Roshan


The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.


Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Comments
Loading...
EquitiesNewsContractsMarketsRail Vikas Nigam