Rail Vikas Nigam share gain on winning multiple orders from NHAI

Company received LoA from NHAI for construction expressway in the state of West Bengal on EPC mode.

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Rail Vikas Nigam share price added more than 4 percent in the early trade on April 3 on winning multiple orders worth Rs 721 crore.

Rail Vikas Nigam has received Letter of Award (LoA) from National Highway Authority of India (NHAI) for construction of six lane elevated Kona expressway project in the state of West Bengal on EPC mode.

The order is worth of Rs 720.67 crore and to be executed in 910 days.

The company’s JV also received LoA from Ministry of Railways for manufacturing cum maintenance of Vande Bharat Trainsets including up-gradation of the government manufacturing units & trainset depots.

The total quantity is 120 trainsets and cost per set is Rs 120 crore.

The company’s share is 25 percent and to be completed in 82 months.

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Also, the consortium (RVNL and Tracks & Towers Infratech) received LoA from NHAI for ‘construction of 6-lane Greenfield Varanasi-Ranchi-Kolkata highway from Sonepurbigha village junction with NH-22 near Chatra under Bharatmala Pariyojana in the state of Jharkhand on Hybrid Annuity Mode.

The project cost is worth Rs 1,271.98 crore and share of RVNL is 49 percent.

At 09:25 hrs Rail Vikas Nigam was quoting at Rs 71.08, up Rs 2.48, or 3.62 percent on the BSE.

The share touched a 52-week high of Rs 84.15 and a 52-week low of Rs 29 on 29 November, 2022 and 21 June, 2022, respectively.

Currently, it is trading 15.53 percent below its 52-week high and 145.1 percent above its 52-week low.