The RVNL acquired Rs.156.47 cr from Southern Railway, project is setting automatic signals in the Ernakulam Junction, it is the B- Route project of Thiruvanathapuram Division of Southern Railway. The RVNL shares moved higher after the new project claimed.
RVNL Market price is moving in Ascending channel and market has fallen from the higher high area of the channel
The share price of Rail Vikas Nigam Limited (RVNL) was trading marginally lower in early trade on June 10 after the company emerged as the lowest bidder (L1) from Southern Railway.
The company announced, “M/s KRDCL-RVNL Joint Venture has emerged as the lowest bidder (L1) from Southern Railway for the provision of automatic signaling on the Ernakulam Junction (ERS) – Vallattol Nagar (VTK) section on the B-route of the Thiruvananthapuram division in Southern Railway.”
The total contract value is Rs 156,47,03,304.52, with RVNL and KRDCL holding shares of 49 percent and 51 percent, respectively. The contract is to be executed within 750 days.
In related developments, the board of directors of RVNL approved the appointment of Shri N. C. Karmali as an additional director effective from May 20, 2024.
On June 7, RVNL secured an order worth Rs 495 crore from the National Thermal Power Corporation (NTPC). On June 6, the company received orders worth Rs 515 crore from Dakshin Haryana Bijli Vitran Nigam Limited and Eastern Railway for the construction of the Sitarampur bypass line under the Asansol division.
Additionally, on June 3, RVNL received a Letter of Acceptance from South Central Railway for an Engineering, Procurement, and Construction (EPC) tender for the proposed doubling of the track between Ankai station (excluding) and Karanjgaon stations (excluding), including electrification and signaling works, as part of the Aurangabad-Ankai Doubling project in the Nanded Division of South Central Railway.
The KEC International acquired Rs.1061 cr from various business segments. The company civil Business also acquired Rs.1002 cr in this year, various segments like Metro Rail projects of Bengaluru, Transmission and distribution lines from Malaysia.
KEC INTERNATIONAL Market price is moving in Ascending channel and market has reached higher high area of the channel
In the opening trade on June 10, the share price of KEC International surged by 4 percent after the company announced securing new orders totaling Rs 1,061 crore across its various business segments.
The company’s Transmission & Distribution (T&D) business has clinched orders for T&D projects in India, East Asia Pacific, and the Americas, encompassing Transmission lines and Substation order from a reputed private developer in India, Additional order for a Transmission line in Malaysia, and Supply of towers, hardware, and poles in the Americas.
In its Railways business, KEC International has secured orders in both technologically enabled and conventional segments in India. This includes Gauge conversion, Power Supply System for Metro, and other associated civil works from Bengaluru Metro Rail Corporation (BMRC).
Additionally, the Cables business has secured orders for the supply of conductors and cables, including power transmission conductors from a renowned infrastructure player in India and various types of cables in India and overseas.
On June 6, the company’s civil business also secured orders worth Rs 1,002 crore, including residential projects in northern and southern India from renowned real estate developers and the construction of official residences and associated facilities for defense officials.
MPHASIS: Mphasis Sees Rs 7,066 Cr Block Deal as Blackstone Offloads 15.6% Stake
The Mphasis stock declined after the Rs.7066 cr Block deal happened from Black stone company and offloads 15.6% stake in this company. Now 39.85% stake holding from the Blackstone, still this company is the highest promoter in this company. Nearly 2.95 cr shares exchanged and average price of Rs.2392 per share.
MPHASIS Market price has broken Ascending channel in downside
On June 10, a significant block deal involving 2.95 crore shares, equivalent to a 15.6 percent stake in Mphasis, occurred on the exchanges. The transaction, executed at an average price of Rs 2,392 per share, amounted to Rs 7,066 crore.
While the parties involved in the transaction were not immediately identified, CNBC TV-18 reported that private equity firm Blackstone was expected to reduce its stake in the IT company by 10.6 percent.
According to CNBC-TV18’s report, the base transaction, valued at Rs 4,700 crore, also included an upsize option to expand the stake sale to 15.1 percent, aiming to raise a total of Rs 6,697 crore.
Moreover, the stake sale is set to trigger a 180-day lock-in period before Blackstone can execute any similar transactions.
As per Mphasis’ latest shareholding data, Blackstone, through its affiliate BCP Topco, owned a 55.45 percent stake in the IT company, making it the largest shareholder. Post the block deal, although Blackstone’s stake will decrease to 39.85 percent, it will still retain its top shareholding position.
In the March quarter of FY24, Mphasis recorded a marginal decline of around 3 percent in its consolidated net profit to Rs 393.2 crore, compared to Rs 405.3 crore in the same period last year. However, the company managed to increase its revenue to Rs 3,142 crore, up from Rs 3,361.2 crore a year ago. Additionally, in the same quarter, the company secured new contracts worth $177 million.
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