CNBCTV18 - Finance Ministry on Wednesday gave its approval to upgrade Rail Vikas Nigam Limited (RVNL) to Navratna Central Republic Sector Enterprise (CPSE) making it the 13th Navratna among CPSEs. Read more
What is Navratan CPSEs? The government has introduced the Navratan scheme in 1977 to identify central public sector enterprises Cpcs that had comparative advantages and to support them in their drive to become global giants.
RVNL is currently categorised as a Miniratna Central Public Sector Enterprise. Incorporated in 2003, it is engaged in planning, development and implementation of railway infrastructure projects.
The discussions regarding the upgrade to Navratna status was initiated on the back of multiple orders that RVNL recently won from the National Highway Authority of India and the Railways.
The shares of RVNL have been gaining in past few sessions, especially after the automation giant Siemens in a consortium with RVNL received two orders from Gujarat Metro Rail Corporation Ltd (GMRCL) last week.
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