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<ul><li><strong>A total of ₹ 32,000 crore will be paid to the winning bidder over a period of 35 years for the maintenance of these trains.</strong></li><li><strong>The financial bids will be opened in the next 45 days.</strong></li><li><strong>The <keyword id="46754" type="General" weightage="100" keywordseo="vande" source="Orion">Vande</keyword> Bharat trains are expected to be a big upgrade from the premium Rajdhani Express service. </strong></li></ul><br />State-run Bharat Heavy Electricals Ltd (BHEL) has formed a consortium with <keyword id="112351" type="General" weightage="50" keywordseo="titagarh-wagons" source="Orion">Titagarh Wagons</keyword> and is among five entities which have bid for the mega ₹ 58,000 crore contract to manufacture 200 Vande Bharat trains and maintaining them for the next 35 years.<br /> <br /> Other players in the fray include French railway major Alstom; Medha-Stadler consortium between Swiss railway rolling stock manufacturer <keyword id="6793633" type="General" weightage="50" keywordseo="stadler-rail" source="Orion">Stadler Rail</keyword> and Hyderabad-based Media Servo Drives; Siemens along with BEML, and Russian rolling stock manufacturer <keyword id="6632056" type="General" weightage="50" keywordseo="transmashholding" source="Orion">Transmashholding</keyword> (TMH) along with an Indian firm. <br /><br /> Officials said while ₹ 26,000 crore is the upfront payment on the delivery of the trains, ₹ 32,000 crore will be paid to the winning bidder over a period of 35 years for the maintenance of these trains. <br /><br /> The <keyword id="6355455" type="General" weightage="50" keywordseo="indian-railways" source="Orion">Indian Railways</keyword> is now evaluating technical bids for the contract. The financial bids will be opened in the next 45 days. <br /><br /> According to the tender document, the successful bidder has to produce a prototype of the sleeper class for Vande Bharat trains within 24 months. <br /><br /> The Indian Railways is targeting to roll out the first sleeper version of Vande Bharat train by the first quarter of 2024. Till now, the railways has awarded contracts for manufacture of 102 Vande Bharat trains which are all chair car. <br /><br /> The Vande Bharat trains are expected to be a big upgrade from the premium Rajdhani Express service. The sleeper class-version of these trains will be run on the routes to cover overnight rail journey like New Delhi-Patna, New Delhi-Lucknow and others. <br /><br /> After four years of intensive work and planning, country's first and the second Vande Bharat trains as electric multiple units at semi-high speed, were flagged off by Prime Minister <keyword id="6354477" type="General" weightage="50" keywordseo="narendra-modi" source="Orion">Narendra Modi</keyword> in 2019 on the New Delhi-Varanasi and New Delhi-Katra in J&amp;K routes. <br /><br /> The first VB train was flagged on the New Delhi-Varanasi route and the second one was on New Dehi-Katra route to provide fast rail transportation from the national capital to these pilgrim cities. <br /><br /> The railway ministry is also working towards exporting these trains by 2026 to cover the international markets of South Africa and European countries. <br /><br />SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/long-covid-linked-with-increased-body-weight-study/articleshow/95906210.cms">Long Covid linked with increased body weight : Study</a><br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/indias-mfg-pmi-hits-3-month-high-in-nov-amid-expansion-in-production-slowdown-in-inflation-sp/articleshow/95905921.cms">India's mfg PMI hits 3-month high in Nov amid expansion in production, slowdown in inflation: S&amp;P</a><br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/wipro-infrastructure-engineering-acquires-pune-based-linecraft-ai-for-an-undisclosed-sum/articleshow/95905792.cms">Wipro Infrastructure Engineering acquires Pune-based Linecraft.ai for an undisclosed sum</a>

BHEL among 5 bidders for Rs 58,000 cr deal to manufacture, maintain 200 Vande Bharat trains

<ul><li>India’s benchmark indices <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> closed marginally higher after a choppy session on Tuesday amid mixed global sentiments.</li><li>PSU bank, energy and metal stocks were on the rise, while IT and media stocks declined.</li><li>Adani Enterprises, Bajaj Finance, Britannia Industries, Bajaj Finserv and Bharti Airtel were amongst the top gainers on Nifty50.</li></ul>India’s benchmark indices Sensex and Nifty50 closed marginally higher after a choppy session on Tuesday amid mixed global sentiments. PSU bank, energy and metal stocks were on the rise, while IT and media stocks declined.<br /><br />The 30-stock Sensex was up 0.12% or 74 points to 60,130, while the 50-stock Nifty50 was up 0.15% or 25.85 points to 17,769. <br /><br />“Cautious optimism prevailed as sluggish to negative global markets' sentiment prompted traders to take selective bets in metals, oil &amp; gas, and financial stocks. The bigger concern is that the rate hike cycle in the US and European nations is likely to continue, which may further push key economies into a slowdown phase and hurt growth,” Shrikant Chouhan, Head of Equity Research (Retail) at Kotak Securities said. <br /><br />Adani Enterprises, Bajaj Finance, Britannia Industries, Bajaj Finserv and Bharti Airtel were amongst the top gainers on Nifty50. Meanwhile HDFC Life, UPL, HDFC Bank, HDFC and Tech Mahindra were amongst the top losers.<br /><br />Among Nifty500, Rail Vikas Nigam surged exceptionally higher by 20% on Tuesday and 37% in the last two days. The stock has been on a rise since March when a consortium of Russia's CJSC Transmashholding and Rail Vikas Nigam emerged as the lowest bidder for the ₹58,000-crore contract to manufacture and maintain 200 trainsets at ₹120 crore per unit.<br /><br />Top gainers and losers on Nifty500<br /><table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers<br /><br /></td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change<br /><br /></td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers<br /><br /></td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change<br /><br /></td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rail Vikas Nigam<br /><br /></td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">20%<br /><br /></td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Consumer Greaves Consumer Electricals<br /><br /></td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-11.83%<br /><br /></td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rites<br /><br /></td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8.69%<br /><br /></td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IPCA Laboratories <br /><br /></td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-10.33%<br /><br /></td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BSE<br /><br /></td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8.02%<br /><br /></td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Meghmani Finechem<br /><br /></td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-5.58%<br /><br /></td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Indiabulls Real Estate<br /><br /></td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.77%<br /><br /></td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brightcom Group<br /><br /></td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-4.8%<br /><br /></td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Varroc Engineering<br /><br /></td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.23%<br /><br /></td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCI Express<br /><br /></td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.98%<br /><br /></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table><em>Source: NSE, as on April 25, 2023</em><br /><br />Besides, investors are awaiting the US Fed monetary policy outcome next week that would provide some direction to the market.<br /><br />“The domestic market succeeded in holding the gains, though multiple attempts were made by bears to reverse the trend considering the weak global market. Investors are highly nervous as they await the release of US GDP and PCE inflation data, which will guide the upcoming Fed action. The Fed is expected to raise their rates by another 25bps in its announcement on 3rd May,” said Vinod Nair, Head of Research at Geojit Financial Services.<br /><br />Earlier on Monday, both the benchmark indices rose 0.7% after initial hiccups, with Sensex above the 60,000 level once again while Nifty50 closed at 17,743 points.<br /><br />Gold and silver prices edged up a tad on Monday, as did crude oil prices amid a weaker dollar and improving demand sentiments ahead of holiday travel season in China.<br /><br /><strong>Global markets mixed<br /></strong>Markets remained mixed globally as investors awaited key earnings to trickle in. While the Dow Jones rose 0.2%, S&amp;P 500 was higher by 0.09%. The tech-heavy Nasdaq declined 0.29%.<br /><br />European markets, on the other hand, fell on Monday with DAX declining 0.16% and FTSE ending 0.31% lower.<br /><br />Asian markets were mixed on Tuesday, with Nikkei 225 rising 0.09%. On the other hand, Hang Seng fell 1.71%, Taiwan Weighted fell 1.64%, KOSPI fell 1.37%, while Shanghai Composite declined 0.32%.<br /><br /><strong>SEE ALSO:<br /><br /><a href="https://www.businessinsider.in/finance/banks/news/icici-bank-vs-hdfc-bank-how-indias-top-two-private-lenders-have-performed-in-q4/articleshow/99733618.cms">ICICI Bank vs HDFC Bank: How India’s top two private lenders have performed in Q4</a><br /><br /></strong><a href="https://www.businessinsider.in/business/news/flex-operators-lease-as-much-office-space-as-tech-cos-in-jan-march-quarter/articleshow/99727571.cms"><strong>Flex operators lease as much office space as tech cos in Jan-March quarter</strong></a><br />

Sensex, Nifty50 close marginally higher after a choppy session; PSU banks on a rise

<ul><li>The stock of Rail Vikas Nigam has surged 42% in the last five sessions, and has been on an upswing for the last six months.</li><li>On April 26, the stock hit its 52-week high at ₹114.70.</li><li>There are also reports of Indian Railways taking up the production of 120 advanced Vande Bharat Express trains by August 2023.</li></ul>Rail Vikas Nigam Limited (<keyword id="240577" type="General" weightage="20" keywordseo="rvnl" source="Orion">RVNL</keyword>), a public-sector railway company, has been on investors’ radar recently because of a strong rally in the stock led by robust orders. The stock has surged 42% in the last five sessions and 59% in the last one month. It has risen 156% in the last six months. <br /><br />In fact, on April 26, the stock hit its 52-week high at ₹114.70. <br /><br />The interest in the stock is due to the series of orders it has bagged in the last few months. As per media reports, a consortium of RVNL and Russia's CJSC Transmashholding became the lowest bidder for a mega order to manufacture and maintain 200 trainsets of Vande Bharat. <br /><br />Earlier this month, RVNL also emerged as the lowest bidder for a Mumbai Metropolitan Region Development Authority (MMRDA) project worth ₹378 crore.<br /><table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Month <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Orders won<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Order value <br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">March <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Construction of 6-lane Greenfield Varanasi-Ranchi-Kolkata Highway in consortium with Tracks &amp; Towers Infratech <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,271 crore <br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">March <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Manufacturing-cum-maintenance of Vande Bharat Express trains<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">200 trainsets and cost per set is ₹120 crore <br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">March <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Construction of Six-Lane Elevated Kona Expressway <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹720 crore <br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">April <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Lowest bidder for provision of E1-based Automatic Signaling in stations between Jhansi - Gwalior<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹121 crore <br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">April <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mumbai Metro line<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹378 crore <br /><br /></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table><br /><strong>Reinventing itself <br /></strong>Rail Vikas Nigam executes all types of railway projects including new lines, gauge conversion, railway electrification, metro projects, workshops, major bridges, construction of cable-stayed bridges, and institutional buildings. <br /><br />“After being a railway capex arm for almost 20 years, RVNL is reinventing itself and is embarking on a new journey (open bidding vs nomination). With extensive expertise and experience, we think it will be difficult to replace RVNL for railway projects while it wins new opportunities in new sectors and geographies,” said a report by Elara Capital. <br /><br />It works on a turnkey basis and undertakes the full cycle of project development from conceptualisation to commissioning, including stages of design, preparation of estimates, calling contracts, and project and contract management. The public- sector player has also incorporated a subsidiary named Kinet Railway Solutions. <br /><br /><table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rail Vikas Nigam<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY22<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY23 estimated <br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sales <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹15,403 crore <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹19,381 crore <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹20,020 crore<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Other income <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹807 crore <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹903 crore <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,001 crore <br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net profit <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹991 crore <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,182 crore <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,298 crore <br /><br /></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table><em>Source: Asit C. Mehta Institutional Research </em><br /><br /><strong>Vande Bharat programme an upside trigger for RVNL <br /></strong>There seem to be more orders on the way for the company, as media reports suggest that the Indian Railways will start the production of 120 advanced Vande Bharat Express trains by August 2023. <br /><br />The central government has sanctioned ₹600 crore to set up a coach factory at Latur and to begin the operations at the earliest. Presently, 14 Vande Bharat Express trains are operating on different routes across the country. <br /><br />In the 2023-24 budget, the government increased its capex by 33.4% to ₹10 Lakh crore for infrastructure development, with record allocation to the Railways. <br /><br />“100 transport infrastructure projects identified for end-to-end connectivity for ports, coal, steel and fertiliser sectors. It’s the highest-ever capital allocation for Railways and is nearly nine times over FY14 allocations with an outlay of ₹2.4 lakh crore provided for railways in FY24,” said a report by Asit C Mehta Investment Intermediates titled ‘Accelerating growth prospects’. <br /><br />As more orders are set to roll in, brokerages expect RVNL’s revenue and margins to improve as well. “Management expects margins to gradually improve as the share of nomination-based bidding comes off (cost + fixed margin). For FY23, management targets a revenue of ₹200-205 billion,” said the Elara report. <br /><br />Analysts at Asit C Mehta said they expected the company’s revenue to grow at a compound annual growth rate (CAGR) of almost 20% over FY23-FY26.<br /><br />“RVNL’s expertise and experience in diversified infrastructure projects - from rails, roads, marine, hill areas, metro trains and many other areas, with (an) existing strong order book, we believe RVNL is well placed to capitalise on these opportunities,” said Asit C Mehta. <br /><br />The brokerage has a ‘Buy’ rating on the RVNL stock with a target price of ₹120, indicating that there is more juice left in it even after turning a multibagger. <br />        <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[]]></cdata></div><br /><strong>SEE ALSO: </strong><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/bajaj-auto-rides-on-richer-product-mix-in-q4-but-export-and-disruption-concerns-persist/articleshow/99784940.cms">Bajaj Auto rides on richer product mix in Q4, but export and disruption concerns persist</a><br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/personal-finance/news/what-type-of-documents-require-for-the-return-filing-in-fy-2022-23/articleshow/99764857.cms">Your comprehensive document checklist for income tax return filing</a>

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