Multi bagger RVNL stock jumps over 3.6% amid securing multiple contracts

Shares of multi-bagger Railway PSU boasted by over 3.45% as a consortium led by Rail Vikas Nigam Limited (RVNL), along with HFCL Limited and Aerial Telecom Solutions Pvt. Ltd., has been announced as the lowest bidder for a project by Bharat Sanchar Nigam Limited (BSNL).

The contract, awarded by BSNL, is domestic and will span three years for construction and 10 years for maintenance. The total value of the contract stands at approximately Rs 5,008.20 crore The share of each consortium member in the contract is yet to be decided.

This development follows a series of successful bids by RVNL. Earlier, RVNL in a joint venture with SCPL, was declared the lowest bidder for a project from Eastern Railway. The project was valued at Rs 837 crore. RVNL is the major partner with 74% shares in the JV.

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In addition, the joint venture (JV) between Rail Vikas Nigam Limited (RVNL) and Rithwik Projects Pvt. Ltd. (RPPL) has been announced as the lowest bidder for a significant rail infrastructure project in Karnataka.

The project is said to be a part of the Bengaluru Suburban Rail Project (BSRP) and involves the construction of nine stations, including one elevated and eight at-grade stations, along with other civil and structural works. The project is to be completed within 24 months, with an estimated cost of Rs 613 crore. RVNL holds a 51% share in the JV, while RPPL holds the remaining 49%.

As of September 20, 2024, Rail Vikas Nigam Limited's (RVNL) order book was Rs 83,321 crore. This is a slight decrease from the Rs 85,000 crore order book reported at the end of March 2024.
 

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