RMC Switchgears Receives Letter of Award from Jaipur Vidyut Vitran Nigam Limited for ₹2.84 Crore
RMC Switchgears Limited has secured a Letter of Award (LOA) from Jaipur Vidyut Vitran Nigam Limited (JVNL). The contract, valued at ₹ 2,84,47,125, is for the supply of 100 Amp. L.T. Distribution Kiosks suitable for Underground Cabling.The receipt of this order strengthens RMC Switchgears Limited's order book and is expected to contribute positively to the company's revenue and growth prospects. The contract is scheduled to be executed within a timeframe of six months.
Key details regarding the transaction are as follows:
| Parameter | Details |
|---|---|
| Awarding Entity Name | Jaipur Vidyut Vitran Nigam Limited |
| Nature of Order | 100 Amp. L.T. Distribution Kiosks Suitable for Underground Cabling |
| Order Value (Broad Consideration) | ₹ 2,84,47,125 (Two Crores Eighty Four Lacs Forty Seven Thousand One Hundred Twenty Five Rupees) |
| Entity Type | Domestic |
| Execution Period | 6 Months |
The terms and conditions governing the contract stipulate that they will be guided by the general condition of the contract price variation formula, technical specifications, and other appended documents. However, if any terms mentioned in the Purchase Order (PO), Invitation to Tender (ITB), and General Conditions of Contract (GCC) differ from the RTPP Act, the RTPP Act shall supersede.
The transaction was executed with a domestic entity, Jaipur Vidyut Vitran Nigam Limited, and the promoter group of RMC Switchgears Limited has no interest in the awarding entity. Furthermore, the order is not classified as a related party transaction.
RMC Stock Price Movement
Shares of RMC Switchgears Limited are edging higher to ₹269.90 as of 11:29 AM today, gaining 0.71% in live trading. The stock has traded within a tight intraday range, fluctuating between a low of ₹262.9 and a high of ₹270.8.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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