Rail Vikas Nigam Ltd (RVNL), a public company with Miniratna status, has been planning, funding, and implementing rail infrastructure projects since September 2013. Also, over the last five years, RVNL has finished top among Railway PSEs four times.
“Pursuant to Regulation 29 read with Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”), this is to inform that a meeting of the Board of Directors of the Company is scheduled to be held on Friday, 24th March, 2023, inter alia, to consider and approve the Interim Dividend for the financial year 2022-23. For the purpose of payment of Interim Dividend, if so, approved by the Board, the ‘RECORD DATE’ would be 6th April, 2023 (Thursday). Further, pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015 and “RVNL code of conduct for regulating and reporting trading by Designated Persons and their immediate relatives” the Trading Window shall remain closed from 22nd March, 2023 (Wednesday) to 26th March, 2023 (Sunday),” said the Board of Rail Vikas Nigam in a stock exchange filing today.
Rail Vikas Nigam has announced an equity dividend of 18.30% at face value of ₹10, or ₹1.83 per share, for the fiscal year that ended in March 2022. This generates a dividend yield of 2.87% at the current share price of ₹63.75. The company has a solid track record of dividend declarations during the past five years. Since September 6, 2019, Rail Vikas Nigam Ltd. has announced six dividends, according to Trendlyne statistics.
“TTIPL-RVNL Consortium (Tracks & Towers Infratech Pvt. Ltd. -Rail Vikas Nigam Limited) emerges as the Lowest Bidder (L1) for NHAI Project of “6-lane Greenfield Varanasi-Ranchi-Kolkata Highway from Sonepurbigha village to junction with NH-22 (Chatra Bypass) near Chatra from km 184.700 to km 222.000 under Bharatmala Pariyojana in the State of Jharkhand on Hybrid Annuity Mode (Package-8).” The cost of project is Rs. 1271.99 Crore (TTIPL Share is 51% and RVNL Share is 49%),” said Rail Vikas Nigam in a stock exchange filing on Monday.
The shares of Rail Vikas Nigam closed today on the NSE at ₹63.75 apiece level, down by 1.32% from the previous close of ₹64.60. The stock recorded a total volume of 79,22,128 shares compared to the 20-Day average volume of 15,325,862 shares. The stock touched a 52-week-high of ₹84.10 on (29-Nov-2022) and a 52-week-low of ₹29.05 on (21-Jun-2022). During Q3FY23, the company recorded a promoter shareholding of 78.20%, FIIs stake of 2.45%, DIIs stake of 6.45%, and a public stake of 12.92%.