RVNL shares rally 4% on bagging multiple projects

The share price of Rail Vikas Nigam (RVNL) rallied 4 percent in the early trade on April 1 after the company bagged multiple projects.

At 9:29am, Rail Vikas Nigam was quoting Rs 261.80, up Rs 8.85, or 3.50 percent, on the BSE.

"RVNL has emerged as the lowest bidder from SER HQ-Electrical/South Eastern Railway for design, supply, erection, testing and commissioning for upgradation of electric traction system from 1 x 25 KV to 2 x 25 KV traction system for Kharagpur (Excl.) Bhadrak (Excl.) section of Kharagpur division of South Eastern Railway to meet 3000 MT loading target," the company said in a filing with the exchanges.

The cost of the work is Rs 148.26 crore and is to be completed in 18 months.

The company has also emerged as the lowest bidder from NFR-Const HQ-Electrical/NF RLY Construction for engineering, procurement, construction of design, supply, erection, testing and commissioning of 25 kV, 50 Hz, Single Phase, AC, Electrification OHE and TSS Works of Araria - Thakurganj New line Section in connection with new line project of Araria - Galgalia of NF Railway, including associated works and supply, erection, modification, testing and commissioning of SCADA for the section.

The cost of the said work is Rs 95.95 crore and is to be completed in 240 days.

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The Joint Venture between Salasar Techno Engineering and RVNL emerges as the lowest bidder from Energy Development Corporation Limited (EDCL) for plant, design, supply and installation of 45.8 km, 110Kv Double Circuit Rukarara-Huye-Gisagara Transmission Lines.

The total cost of the work is $7,152,236.59 with RVNL share of 49 percent.

The share touched a 52-week high of Rs 345.60 and a 52-week low of Rs 65.30 on 23 January, 2024 and 29 March, 2023. Currently, the stock is trading 24.25 percent below its 52-week high and 300.92 percent above its 52-week low.