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Rail Vikas Nigam Ltd. ( (IN:RVNL) ) has issued an update.
Rail Vikas Nigam Ltd. has disclosed that it received a demand notice in the form of DRC-07 from the Office of the Assistant Commissioner, Range-2, Division-1, Ahmedabad, Gujarat, for the financial year 2021-22, raising a total demand of Rs 5.56 crore. RVNL has stated that the order will not have any material impact on its financials, operations or other activities, and the company has either filed or is in the process of filing appeals before the appropriate appellate authorities to challenge the demand, signalling its intent to contest the claim while maintaining continuity in its core infrastructure business.
More about Rail Vikas Nigam Ltd.
Rail Vikas Nigam Ltd. (RVNL) is a government-owned enterprise engaged in the development, implementation and execution of railway infrastructure projects across India. The company focuses on planning and delivering rail network expansion, modernization and related civil, electrical and signaling works to support Indian Railways’ capacity and connectivity goals.
Average Trading Volume: 330,415
Technical Sentiment Signal: Buy
Current Market Cap: 665.3B INR
See more data about RVNL stock on TipRanks’ Stock Analysis page.