RVNL Shares Surges 3% on Securing Contract worth Rs 554 Crore from NHAI
The project involves constructing a six-lane, access-controlled road connecting Visakhapatnam Port Road, spanning from Sabbavaram Bypass (Anakapalli – Anandapuram corridor) to Sheelanagar Junction in Andhra Pradesh.
RVNL Shares Surges 3% on Securing Contract worth Rs 554 Crore from NHAI
Shares of Rail Vikas Nigam Ltd surged 3% after NHAI awarded the company a contract worth Rs 554.64 crore, which has to be executed in a period of 730 days. The Railway PSU firm has emerged as the lowest bidder (L1) for a major infrastructure project awarded by the National Highway Authority of India (NHAI).
The project involves constructing a six-lane, access-controlled road connecting Visakhapatnam Port Road, spanning from Sabbavaram Bypass (Anakapalli – Anandapuram corridor) to Sheelanagar Junction in Andhra Pradesh.
This will be executed under the Hybrid Annuity Mode (HAM), ensuring a structured funding model for efficient project completion. Additionally, on March 10, RVNL signed a Memorandum of Understanding (MoU) with Abhinava Strategic Partners, a private entity, to explore railway-related opportunities in Saudi Arabia.
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The collaboration aims to provide advisory services and expertise in multiple infrastructure sectors, including railways, mass rapid transit systems (MRTS), tunnels, highways, motorways, bridges, airports, ports, and power transmission.
This partnership positions RVNL to expand its presence in Saudi Arabia and the broader Middle East region, tapping into emerging opportunities in large-scale infrastructure development.
Shares of RVNL are trading higher by 0.48% at Rs 332.10. The share price of RVNL has dropped by 0.6% in the last five trading days. The stock has wiped off almost 10% of investors’ value in the last month and 40% in the last six months.
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