The price of a share of Rail Vikas Nigam Limited (RVNL) increased by as much as 5.38 per cent, reaching a new 52-week high of Rs 431.80. The increase in share price came after the RVNL stated that it had emerged as the lowest bidder (L-1) for a Rs 192 crore project with South Eastern Railway.
In an exchange filing, RVNL stated, “It is hereby informed that Rail Vikas Nigam Limited emerges as the Lowest Bidder (L1) from SER HQ-ELECTRICAL/SOUTH EASTERN RAILWAY for “Design, Supply, Erection, Testing & Commissioning of 132 KV Traction Substation, Sectioning post (SPs), and Sub sectioning post (SSPs) in 2x25KV System on Rajkhaswan- Nayagarh-Bolani section of Chakradharpur division of South Eastern Railway to meet 3000MT loading target on EPC mode.”
As of 12:35 PM, the RVNL shares were trading 1.43% at Rs 415.75.
As per the terms of the contract, RVNL takes charge of designing, supplying, erecting, testing and commissioning a 132 KV traction substation as well as sectioning posts (SPs) and sub-sectioning posts (SSPs) for a 2×25 KV system on the South Eastern Railway’s Chakradharpur division’s Rajkhaswan-Nayagarh-Bolani section. The goal of this project is to load 3,000 MT in the EPC mode.
The work is now costing Rs 191,53,74,279.51 crore.
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