RVNL Shares Surge 9% on MoU with Israeli Firm

22 Jul 2024 CW Team

Shares of Rail Vikas Nigam Ltd (RVNL) soared by 9% to Rs 637.80 on the BSE following the announcement of a significant Memorandum of Understanding (MoU) with United Construction Limited, Israel. The RVNL stock rebounded by 12% from its intra-day low of Rs 569.80.

In an exchange filing, RVNL disclosed that the MoU aims to foster cooperation for securing projects across various sectors including Railways, Mass Rapid Transit System (MRTS), tunnels, roads, bridges, building works, airports, ports, irrigation, power transmission and distribution, solar, and wind sectors in Israel.

In a separate filing, RVNL announced that the Hon'ble tribunal awarded Rs 5.84 billion in favor of its joint venture company, Krishnapatnam Railway Company Limited (KRCL), in an arbitration with the Ministry of Railways (MoR).

RVNL, along with its subsidiaries and joint ventures, is deeply involved in implementing diverse rail infrastructure projects assigned by MoR, including gauge conversion, new lines, railway electrification, major bridges, workshops, and production units. The company has successfully constructed major workshops for Indian Railways and is expanding its reach to secure rail infrastructure projects overseas.

Additionally, RVNL recently signed an MoU with IMS Consultancy Private Limited for providing technical and advisory services for various infrastructure projects in Nepal.

So far in 2024, RVNL's market price has surged nearly 250%, and 430% over the past year, outperforming the BSE Sensex's gains of 12% and 21%, respectively.

Real Estate

26 Jun 2026

AGM Vijaylaxmi launches Sixty3 W.E. Bizpark

AGM Vijaylaxmi Group has launched Sixty3 W.E. Bizpark, a mixed-use commercial development in Goregaon East, Mumbai. The project includes contemporary office spaces and a high-street retail component designed to support businesses, retailers and professionals.Located along the Western Express Highway, Sixty3 W.E. Bizpark is planned as a G+25-storey commercial tower. It offers office spaces ranging from 545 sq ft to 3,200 sq ft, with a 3.60 metre floor-to-floor height aimed at improving spatial comfort, natural light and operational efficiency.The project features a high-street retail boulevard ..

Manglam Group to Develop Sheraton Hotel in Jaipur

Manglam Group has signed an agreement with Marriott International to develop a Sheraton hotel on the Jaipur–Ajmer Highway in Jaipur. The project will feature 220 keys and is being developed with an investment of around Rs 3.5 billion across more than 300,000 sq ft.The hotel marks Manglam Group’s third collaboration with Marriott International and forms part of its Rs 10 billion hospitality investment roadmap. The agreement was signed by Amrita Gupta, Director, Manglam Group and CEO, Manglam Spa and Resorts, and Rajeev Menon, President, Asia Pacific excluding Greater China, Marriott Interna..

India Warehousing Show 2026 opens at YashoBhoomi

India's warehousing, logistics, and supply chain ecosystem came together as the 15th edition of India Warehousing Show (IWS) 2026 opened at YashoBhoomi, India International Convention & Expo Centre (IICC), Dwarka, New Delhi on June 25 (Thursday). Organised by RX India, the three-day event will run from 25-27 June 2026, bringing together policymakers, industry leaders, technology providers, and supply chain professionals under one roof. It also features a two-day knowledge conference that will run alongside the exhibition. Inaugurated by Pankaj Kumar, Joint Secretary - Logistics, DPIIT..