RVNL shares rises 4%, bags second project by East Coast Railway

Rail Vikas Nigam Ltd has emerged as the lowest bidder for the Koraput-Singapur road doubling project by the East Coast Railway. The work involves the execution of 27 major bridges, including 22 major bridges and five railway overbridges, and earthwork for the formation of approaches, protection works, and other connected miscellaneous works, between Tikiri and Bhalumaska stations, the company said.

RVNL shares are in the green after nine days on Tuesday, December 31.

The company was also declared the lowest bidder for a Central Railway project worth Rs 137 crore on Monday. The project involves the design, supply, erection, testing, and commissioning of a 132/55 KV traction substation, sectioning posts, and sub-sectioning posts in the Bhusaval-Khandwa section. The contract is aimed at upgrading the 2x25 KV traction system, employing Scott-connected transformers to support a loading target of 3,000 MT.

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RVNL shares were trading 4.57% higher at Rs 426 apiece on Monday, December 31. Railway stocks had a stellar first half of 2024, with stocks like IRFC, RVNL, and IRCON gaining between 55% to as high as 130% during the January-June period this year.

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