RVNL's Share Price Rises as Company Bags Projects Worth ₹386 Crore

12 Mar 2024 , 12:24 PM

Rail Vikas Nigam Limited (RVNL) witnessed a 1% rise in its share price during the opening trade on March 12. At the time of writing, the stock was trading at ₹240.00 on the BSE after securing two projects worth ₹386 Crore.

RVNL became the Lowest Bidder (L1) from Central Railway for implementing Automatic Block Signalling in the Khapri-Sewagram Section of Nagpur Division, with a project cost of ₹47,36,54,438.19, scheduled for completion within 12 months.

Additionally, RVNL emerged as the lowest bidder (L1) from Maharashtra Metro Rail Corporation Limited for the design and construction of an elevated viaduct on the North-South Corridor of Pune Metro Rail Project, with a project cost of ₹339,23,39,131.520, to be completed in 130 months.

The company also secured a letter of award (LoA) from the Himachal Pradesh State Electricity Board for infrastructure development in both the North and South zones, with project costs of ₹409.65 Crore and ₹888.56 Crore, respectively, to be completed within 24 months.

Furthermore, RVNL received another LoA for various electrical works under the Revamped Reforms-based and Results-linked Distribution sector in MPPKVVCL, Jabalpur Company area, with a project value of ₹251 Crore, also to be completed in 24 months.

On March 9, RVNL, in a joint venture (JV) with URC, secured a Letter of Acceptance (LoA) worth ₹543 Crore from Madhya Pradesh Metro Rail Corporation Limited (MPMRCL) for part design and construction of the Indore Metro Rail Project, with RVNL's share being 51%.

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