Rail Vikas Nigam Ltd signs JV agreement with Texmaco Rail & Engineering Ltd

Rail Vikas Nigam Limited ("The Company") has signed a Joint Venture Agreement with Texmaco Rail & Engineering Ltd. for undertaking projects in the railway and allied infrastructure sectors. A joint venture company ("JV Company") shall be incorporated subject to approval of RVNL's Board of Directors and other statutory approvals. The proposed shareholding of RVNL and Texmaco Rail & Engineering Ltd. will be 51% and 49% respectively.

Shares of Rail Vikas Nigam Limited was last trading in BSE at Rs. 312.80 as compared to the previous close of Rs. 321.60. The total number of shares traded during the day was 341255 in over 6659 trades.

The stock hit an intraday high of Rs. 322.55 and intraday low of 311.40. The net turnover during the day was Rs. 107422563.00.

Shares of Texmaco Rail & Engineering Limited was last trading in BSE at Rs. 138.40 as compared to the previous close of Rs. 142.50. The total number of shares traded during the day was 229872 in over 3339 trades.

The stock hit an intraday high of Rs. 141.80 and intraday low of 137.55. The net turnover during the day was Rs. 32188777.00.

Source : Equity Bulls

Keywords

RailVikasNigam INE415G01027 RVNL TexmacoRailandEngineering INE621L01012 JVAgreement