Rail Vikas Nigam shares gain 3% on winning Rs 1,088-cr project

The cost of project is Rs 1088.49 crore and to be executed in 1460 days.

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The Rail Vikas Nigam share price gained 3 percent in early trade on March 20 after the company emerged as the lowest bidder (L1) for a project awarded by Haryana Rail Infrastructure Development Corporation.

The composite contract package in connection with new BG Railway Line of HORC project, including, design and construction of twin tunnel using NATM and cut and cover method from 24.880km to 29.580km and design nd installation of ballast less track (excluding supply of rails) from 24.856 km to 29.680 km.

Also, detailed design, supply, installation, testing and commissioning of general electrical services, including supply, erection, testing and commissioning of 11 kV HT/LT power and control cable network, GIS substation (11/0.433) kVA. tunnel lighting system, etc. from km 24.880 to km 29.680.

The design and construction of embankment, bridges and other miscellaneous works from 12 km to 18 km.

The cost of project is Rs 1,088.49 crore and needs to be executed in 1460 days.

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The President of India has approved the appointment of Shri AK Khandelwal, Principal Executive Director (GS), Railway Board as part-time government director on the board of Rail Vikas Nigam Limited (RVNL) with immediate effect, till he holds the post of Principal Executive Director (GS) of the Railway Board or until further orders, whichever is earlier.

At 9:22am, Rail Vikas Nigam was quoting at Rs 64.21, up Rs 1.30, or 2.07 percent.

The share touched a 52-week high of Rs 84.15 and a 52-week low of Rs 29 on November 29, 2022 and June 21, 2022, respectively. It was trading 23.7 percent below its 52-week high and 121.41 percent above its 52-week low on Monday morning.

Earlier this month, company emerged as the lowest bidder for manufacturing cum maintenance of Vande Bharat Trainsets including Up-gradation of the Government Manufacturing Units & Trainset Depots” in JV.

Also, emerged as the lowest bidder for a project worth (without taxes) Rs 111.85 crore

In the month of January, the company received two Letter of Acceptance (LoA) from Southern Railway for a project worth Rs 38,97,41,412.65 and Rs 38,40,13,395.48.

Also, company has emerged as the Lowest Bidder, in consortium with Siemens India, for work orders for Surat Metro Rail Project and Ahmedabad Metro Rail Project Phase-II, of Rs 673.8 crore and Rs 384.3 crore, respectively.

In February 2023, the company emerged as the Lowest Bidder for Provision of automatic block signalling on Madar-Sakhun Section (51.13 Kms) of Jaipur Division over North Western Railway. The project cost is Rs 69,48,11,094.74.

And, received LOA of Rs 41,78,17,034.92for provision of automatic block signalling with Dual MSDAC, EI/OC Interface and Block Optimization in Nagari (NG) – Taduku (TDK) Section and replacement of EI/RRI at Vepagunta (VGA) station of Chennai (MAS) Division in Southern Railway (Reach-II).