Shares of Rail Vikas Nigam Limited (RVNL) saw a significant boost on Tuesday, climbing 7.69% to reach an intraday high of ₹439.90 on the National Stock Exchange (NSE). The surge came after the company emerged as the lowest bidder for multiple projects worth a total of ₹541 crore from Indian Railways.
RVNL, a public sector undertaking under the Ministry of Railways, secured two major contracts that are expected to play a pivotal role in expanding and modernizing the Indian Railways network. The first project, valued at ₹404.40 crore, was awarded by East Coast Railway for the Koraput-Singapur Road Doubling Project. This project involves the construction of 27 major bridges, including 22 major bridges and 5 road overbridges (ROBs), along with earthwork and protection works. The work is planned between Tikiri and Bhalumaska stations in the Waltair Division and is part of a broader effort to double the rail route, enhancing connectivity and transportation efficiency.
Furthermore, RVNL emerged as the lowest bidder for another significant project worth ₹137.15 crore from Central Railway. This project involves the design, supply, erection, testing, and commissioning of a 132/55 KV traction substation, sectioning posts, and sub-sectioning posts in the 2 x 25 KV traction system of the Bhusaval-Khandwa sections. The project is expected to be completed within 24 months, further strengthening the power infrastructure of the rail network.
Established in 2003, RVNL is dedicated to the development and construction of railway infrastructure across India. The company plays a key role in modernizing the railway network, with projects spanning the building of new lines, electrification, signaling, and station redevelopment. RVNL is also involved in various sustainability initiatives, including installing solar panels and adopting eco-friendly practices.
At the close of trading on Tuesday, Rail Vikas Nigam Limited’s (RVNL) stock was 3.53% higher at ₹422.70 per share as compared to the previous close of ₹408.30 per share on the National Stock Exchange (NSE).
Summary:
Shares of Rail Vikas Nigam Limited (RVNL) rose 7.69% on Tuesday after the company emerged as the lowest bidder for multiple projects worth a total of ₹541 crore from Indian Railways.
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