Rail Vikas Nigam Shares Surge 13% in 2 Days On Rs 1,134 Cr Order Win; Know Details

Rail Vikas Nigam Limited Share Price: Shares of Rail Vikas Nigam Limited (RVNL) rallied 5 per cent to Rs 79.35 on the BSE in Friday’s intra-day trade amid heavy volumes in an otherwise weak market. The stock has jumped 13 per cent in the last two days. It has touched an intraday high of Rs 79.35 and an intraday low of Rs 77.25.

RVNL informed that the company said its letter of acceptance from Southern Railway for provision of automatic block signalling in the Taduku-Renigunta section in the Southern Railway. The project cost is worth Rs 38.97 crore. The project would be completed in 15 months.

The company on January 11 announced that it had bagged a Chennai Metro Rail project worth of Rs 1,134 crore and the project has to be completed in 1,065 days. The rail infrastructure company will construct an elevated viaduct, nine elevated metro stations, and a stabling viaduct.

Last week, on January 5, RVNL said that it has bagged a project worth Rs 166 crore from Gujarat Metro Rail Corporation (GMRC). The project includes designing, installing, supplying, testing and commissioning of ballastless track from Sarthana to Dream city. This will also include connecting lines to the depot along with ballasted/ballastless/ embedded standard gauge track for corridor-1 for Phase-I of the Surat Metro Rail Project, RVNL said in a BSE filing. The project is scheduled to be completed within 22 months.

RVNL, it’s subsidiary and joint ventures are engaged in the business of implementing various types of rail infrastructure projects assigned by Ministry of Railway (MoR) including doubling (including 3rd/4th lines), gauge conversion, new lines, railway electrification, major bridges, workshops, production units and sharing of freight revenue with railways as per the concession agreement entered into with MoR.

RVNL’s major client is the Indian Railways and other clients include various central and state government ministries, departments, and public sector undertakings. RVNL has also started participating in Metro, Highways and other infrastructure sectors through competitive bidding.

In past three months, the stock price of RVNL has been more-than-doubled or zoomed 114 per cent, as compared to 3.7 per cent rise in the S&P BSE Sensex.

Read all the Latest Business News here