Latest news with #RVNL
Time of India
5 hours ago
- Business
- Time of India
Purple Line cost rises 4 times in 15 years
1 2 Kolkata: The estimated cost of the Joka-Esplanade Metro corridor, which was initially pegged at Rs 2,600 crore in 2010-11, has risen to Rs 10,360 crore this fiscal. With the project being stuck at Kidderpore, Metro officials fear the cost will increase further, and probably inordinately so. The Purple Line, which will link Joka with Esplanade, faced impasses ever since work started in July 2011. The project cost was first revised in July 2019, when the amount rose to Rs 4,800 crore, at a time when the then 16km elevated corridor was split into two phases. Subsequently, a 5-km stretch from Mominpore to Kidderpore went underground as the Army, custodian of the Maidan, did not allow RVNL, the implementing agency, to build an elevated viaduct through the Maidan. Apart from the various legal tangles that followed, the Majerhat bridge collapsed, pushing back the elevated Joka-Majerhat section further. In Feb 2022, the Purple Line received a major boost for the underground construction when the Army agreed to tunnel-borers digging twin tunnels under the Maidan. The first phase of the corridor was flagged off in March 2024, and now, services are operated from Joka to Majerhat. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Tem rota inédita na Azul Azul Clique aqui Undo Just when the project gained momentum, as RVNL appointed contractors for the elevated construction beyond Majerhat to Kidderpore and further, the implementing agency faced another blow for the underground Kidderpore-Esplanade stretch: land for the underground Kidderpore station was unavailable. The proposed station is supposed to be built below Diamond Harbour Road, for which traffic needs to be diverted through a slice of Bodyguard Lines in Alipore. "For the past few years, the cops principally agreed to give up 837 sqm inside the Alipore Bodyguard Lines compound, but work can't start without the permit letter from the state," a railways official said. TOI had reported on Feb 11 about the hurdle for the construction of the Kidderpore station as the land, belonging to Kolkata Armed Police (KAP), was not being handed over to the railways. Despite the uncertainty over Kidderpore station, RVNL started work for the three other underground stations of Victoria, Park Street and Esplanade. The twin TBMs, each 90 m long and weighing 650 tonnes, are currently being lowered below the shaft built under St Thomas' Boys School in Kidderpore. The TBMs will first build 1.7 km from St Thomas' to Victoria and then, 950 m from Victoria to Park Street. Railway minister Ashwini Vaishnaw, while speaking in the Parliament on March 17, had sought state support for railway projects in Bengal. He mentioned the Kidderpore station. "The Kidderpore station only requires land from the state govt, which would allow the work to be finished quickly," the minister had said.
Time of India
a day ago
- Time of India
RVNL sets ball rolling for Chingrighata underpass
1 2 3 Kolkata: RVNL has started preparing the detailed project report for the three-way underpass at Chingrighata after it got a nod from the KMC. Police had told RVNL traffic blocks at Chingrighata for two weekend nights to bridge the last 366m of the viaduct gap of the Orange Line's Ruby-Sector V section would be granted only after the underpass was built. The implementing agency of the 29km New Garia-Airport Metro corridor is trying to reason that the underpass would take time to be built and involve complex traffic curbs at the crossing. The traffic department noted the ground reality in a compiled 'minutes' of an inspection by police and RVNL engineers: "The construction of the underpass may start in Oct-Nov... Completion is estimated to take six months..." RVNL has been seeking six nights' traffic block at Chingrighata to launch two spans over the crossing to bridge the viaduct gap. Once this 366m work is done, the Orange Line can be extended from Ruby to Sector V. But with the traffic department refusing to hand over the site, girder-launching at Chingrighata has been stalled since Feb 2. Several meetings and inspections later, police told RVNL the underpass was their biggest priority for pedestrian safety at Chingrighata. TOI reported on Feb 15 that the extension of Orange Line till Sector V would be stalled till the work on the Chingrighata underpass got underway. Metro is pleading with the traffic department to reconsider its stand. "The underpass will take around a year. Launching spans over Chingrighata can be done in six nights, over two weekends," a railway official said.
India.com
2 days ago
- Business
- India.com
More bad news for Pakistan supporter Turkey as this Indian company is set to..., the company is...
PM Modi's masterstroke to finish Turkey for supporting Pakistan, India exposes Erdogan by.... India vs Turkey: After India conducted Operation Sindoor against the terror targets of Pakistan and Turkey, led by Recep Tayyip Erdogan came into its support, the trend to boycott Turkey is gaining wider attention in India. As a result of the massive anti-Turkey feelings in the country, the Rail Vikas Nigam Limited (RVNL) of India is reportedly terminating its agreement with Turkish firm Tumas. For those unversed, the Indian government had earlier revoked security clearance for Turkish company Celebi. Here are all the developments you need to know about the possible recent action from India. As per a report by the Navbharat Times, the deal between the Rail Vikas Nigam Limited (RVNL) has seen no progress, and as a result, RVNL may seek partnerships with companies from countries like the UAE, Europe, South Korea, and Spain instead. About Rail Vikas Nigam Limited Rail Vikas Nigam Limited (RVNL) is an Indian central Public Sector Undertaking (PSU) which works as the construction arm of the Ministry of Railways for project implementation and transportation infrastructure development. As per the report, RVNL is now preparing to end this deal due to the anti-Turkey sentiments in the country. Indians boycotting Turkey and Azerbaijan In the wake of recent geopolitical developments that have led to a boycotting trends against Turkey and Azerbaijan, there has been a sharp 42 per cent decline in visa applications to Turkey and Azerbaijan, as per a report by IANS news agency. As both countries publicly expressed support for Pakistan, Indian travellers responded swiftly. Within just 36 hours, the number of users exiting the visa application process midway surged by 60 per cent, according to data provided by Atlys, a visa processing platform. (With inputs from agencies)
Mint
3 days ago
- Business
- Mint
Can this railway stock manage the risks while chasing long-term growth?
Indian railway makeover is no longer a dream; it's a full-blown mission. And right at the heart of this infrastructure push is Rail Vikas Nigam Ltd (RVNL), the government arm for the mega rail projects. From electrification and track doubling to station revamps and even metro rail expansions, RVNL is quietly doing the heavy lifting for the Indian Railway's future. But here's the real question: Is RVNL just riding the PSU hype train, or does it genuinely have the steam to compound wealth long-term? In this piece, we decode the RVNL business model, its financials and much more. About RVNL Incorporated in 2003 under the ministry of railways (MoR), RVNL was set up with a clear mandate to accelerate the implementation of critical railway infrastructure projects. Acting as the MoR's primary construction arm, RVNL today is responsible for building new railway lines, electrification, major bridges, workshops, and even metro and urban transport systems. The company has mastered leveraging extra-budgetary resources, especially through the formation of Special Purpose Vehicles (SPVs), reinforcing its ability to mobilise capital beyond traditional government allocations. Its consistent performance earned it Miniratna Category-I status, a recognition that conferred greater operational autonomy. But the real game-changer came in April 2023, when RVNL was awarded the Navratna status. This recognition has not only boosted its financial independence but has strategically positioned the company to compete for larger, more complex infrastructure projects. What has RVNL built? Here's a quick overview of what makes the company a silent force in India's infrastructure story: Revenue Model of RVNL RVNL primarily earns through EPC (Engineering, Procurement, and Construction) contracts, but what's interesting is its evolving model. While EPC accounted for more than 80% of revenue, the rest comes from the project management consultancy (PMC) and other high-margin services. Fees typically range from 8.5-10%, depending on the project type, and the company is actively transitioning from nomination-based to competitive bidding models. RVNL is intricately tied to India's macro-infra goals, particularly the PM Gati Shakti National Master Plan. Competitive Landscape: Key Peers RVNL operates in a competitive environment, with key peers including: From multi-modal logistics parks (MMLPs) to streamlining freight corridors, RVNL's contributions go far beyond laying tracks, it's building India's next-gen logistics and trade infrastructure. Over the last five years, the company has demonstrated a strong and consistent growth trajectory. Turnover has grown steadily, at a compound annual growth rate (CAGR) of 10.6%. Net profit has also expanded impressively to ₹14,630 million (m) in FY24, nearly doubling in five years. It is supported by stable operating margins and a controlled cost structure. The operating profit margin has remained steady at 6%, indicating consistency in operational efficiency despite scaling up. The growing earnings per share (EPS) highlights the company's growing profitability on a per-share basis. This improvement in share also reflects management's effective capital deployment. The balanced dividend payout suggests how the company rewards its shareholders while also retaining profits for future growth. Apart from the strong financials, RVNL will significantly benefit from powerful structural drivers shaping the Indian infrastructure landscape. Sectoral Tailwinds: Railway Infrastructure Boom in India Key Growth Drivers of RVNL Risks Investors Should Know While RVNL presents a compelling growth story, investors must consider several inherent risks associated with it. Conclusion RVNL isn't laying tracks anymore, it's laying the groundwork for a bigger infra story. With strong PSU roots and expanding beyond railways, the potential is real. But new sectors bring new challenges. The real game is balancing smart diversification. Before taking any financial decision, investors should check if the stock aligns with their investment objectives or not. Match the opportunity with the risks. Happy Investing. Disclaimer: This article is for information purposes only. It is not a stock recommendation and should not be treated as such. This article is syndicated from
Mint
3 days ago
- Business
- Mint
Stocks to buy for short term: From RVNL to LIC— Jigar Patel of Anand Rathi suggests 3 stock picks; do you own any?
Stocks to buy for short term: Despite Friday's healthy gains, Nifty 50 declined over half a per cent for the week ended May 23 on profit booking amid a lack of fresh positive triggers. The benchmark slipped below the crucial 24,500 mark amid bouts of profit booking, though it managed a partial recovery by the end of the week. On Monday, May 26, the index reclaimed the 25,050 level in intraday trade, boosted by RBI's hefty dividend to the government, Trump's decision to postpone tariffs on the European Union and the dollar's decline. Jigar S. Patel, Senior Manager of Equity Research at Anand Rathi Share and Stock Brokers, pointed out that the index continues to hover near the 161.8 per cent Fibonacci extension level, while the golden crossover zone—where the 50-day exponential moving average (EMA) crosses above the 200-day EMA—remains significantly lower around 23,800–23,500, keeping the risk of a mean reversion in play. "Looking ahead, 25,300 remains a key resistance to watch, and a breakdown below 24,450 could pave the way for a deeper correction towards the 24,000 zone. In the current setup, the strategy favours profit-booking on rallies rather than aggressive dip-buying, as this pullback may evolve into a more extended consolidation phase," said Patel. Jigar Patel recommends buying shares of RVNL, LIC and SAIL for the next two to three weeks. RVNL recently witnessed a strong rally and is now undergoing a healthy pullback, presenting a potentially lucrative opportunity for traders. The previous breakout zone around ₹ 380– ₹ 385 is a critical area to watch, now acting as a support level. Interestingly, this zone also coincides with the earlier Camarilla R3 resistance, which has now turned into support, adding further credibility to the level. On the hourly chart, a hidden bullish divergence is taking shape, signalling possible strength beneath the surface and improving the risk-reward setup for a fresh entry. "We recommend going long only within the ₹ 380– ₹ 385 zone, targeting an upside move towards ₹ 445. To manage risk, a daily close below ₹ 350 should be treated as a stop-loss trigger," said Patel. RVNL stock technical chart After a prolonged 17-week consolidation, SAIL has finally delivered a breakout on the weekly chart, accompanied by strong momentum. The weekly RSI is now at 57.81, the highest level since October 2024, indicating a resurgence in strength. What makes this breakout even more compelling is the exceptional volume activity observed during the consolidation phase. From January to April 2025, a total of 1.548 billion shares (i.e., 155 crore shares) changed hands. This represents nearly 37.5% of the total outstanding shares of the company (4,13,05,25,289 shares), highlighting significant accumulation by market participants. "We recommend a long position in the ₹ 124– ₹ 126 zone, with an upside target of ₹ 136. A daily close below ₹ 120 should be treated as a stop loss," said Patel. SAIl stock technical chart LIC has established a solid base in the ₹ 730– ₹ 780 range, a zone that coincides with key long-term supports: the S3 Yearly Camarilla level and the S1 Yearly Floor Pivot. This confluence of support has added significant strength to the structure. After a prolonged 6–7 week consolidation, LICI recently broke out and is now comfortably trading above the breakout zone, showing strong price acceptance. Adding to the bullish sentiment, the weekly RSI has climbed to around 53, marking its highest level in the past six to seven months, indicating improving momentum. "We suggest going long in the ₹ 845– ₹ 860 range, with an upside potential towards ₹ 960. A daily close below ₹ 810 should be used as a stop loss," said Patel. LIC stock technical chart Read all market-related news here Read more stories by Nishant Kumar Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions, as market conditions can change rapidly, and circumstances may vary.
