RVNL Stock Surges 4% as Company Wins Multiple Projects

1 Apr 2024 , 12:11 PM

Rail Vikas Nigam’s (RVNL) stock surged by 4% in early trade on April 1 following the company’s successful bid for multiple projects.

At the time of writing, RVNL’s share price is trading at ₹260.20, reflecting a 2.89% increase on the BSE.

RVNL secured a project from SER HQ-Electrical/South Eastern Railway for the upgradation of the electric traction system along Kharagpur (Excl.) Bhadrak (Excl.) section of Kharagpur division. The project, valued at ₹148.26 Crore, is slated for completion within 18 months.

Additionally, RVNL emerged as the lowest bidder for engineering, procurement, and construction works of the Araria Thakurganj New Line Section, including electrification and associated works for NF Railway. This project, costing ₹95.95 Crore, is scheduled to be completed within 240 days.

A joint venture between Salasar Techno Engineering and RVNL secured a project from Energy Development Corporation Limited (EDCL) for the installation of 45.8 km, 110Kv Double Circuit Rukarara-Huye-Gisagara Transmission Lines. The total project cost is $7,152,236.59, with RVNL’s share being 49%.

For feedback and suggestions, write to us at [e-mail]