RVNL Secures ₹540 Crore Railway Projects, Shares Surge 7.5%

31 Dec 2024 , 03:01 PM

Rail Vikas Nigam Ltd (RVNL) share price rallied to 7.5% at intraday stage on Tuesday mainly due to landing of huge order worth about ₹540 crores.

On December 31, 2024 at 3:58 pm, shares of Rail Vikas Nigam ltd closed at ₹427.05 which is a 4.59% gain than the previous close. Rail Vikas Nigam ltd Shares has gained a total of 134% in the last one year, and 2.90% in the last six months.

RVNL shares corrected from the July high of ₹647 but returned an impressive 134% over the last one year, making it a multibagger stock. On Friday, RVNL announced being the Lowest Bidder (L1) for a project from East Coast Railway involving major construction and bridge works between Tikiri and Bhalumaska stations under the Koraput-Singapur Road Doubling Project.

The East Coast Railway project involves 27 major bridges and other related works, aggregating to ₹404.40 crore, with GST. The project is slated to be completed within 30 months.

RVNL has emerged as the Lowest Bidder (L1) for designing and commissioning a 132/55 KV Traction Substation under Central Railway for Bhusaval-Khandwa section.

The Central Railway project is worth ₹137 crore after tax and the completion date should be within 24 months. In aggregate, these projects exceed ₹540 crores, making RVNL display strong momentum for acquiring projects.