Rail Vikas Nigam rises 2% after consortium with Siemens wins Gujarat Metro orders

Shares of Rail Vikas Nigam edged up 2 percent on April 21 after a consortium of Siemens and the public sector company bagged two orders from Gujarat Metro Rail Corporation.

Siemens Ltd, as part of a consortium along with Rail Vikas Nigam Ltd, received two separate orders from Gujarat Metro Rail Corporation Ltd (GMRCL),” a BSE filing by Siemens confirmed.

The orders are for Surat Metro Phase 1 (over 40 kilometres covering 38 stations and 2 depots) and Ahmedabad Metro Phase 2 (over 28 kilometres covering 23 stations and 1 depot).

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At 10.00am, the stock price of Rail Vikas Nigam was at Rs 78.55 apiece, up 1.7 percent from the previous close on the BSE. The stock has surged by 345 percent in the last three years, while it has risen by 119 percent last year.

Earlier this month, the company had announced that it won a project from North Central Railway.

Rail Vikas Nigam had emerged as the lowest bidder (L1) for provision of E1 based automatic signaling with continuous track circuiting and other associated works, including suitable indoor alteration in electronic interlocking/RRI/PI stations enroute in Jhansi (incl)-Gwalior (Incl.) section of Jhansi Division of North Central Railway, the company informed the exchanges.

The cost of the project, excluding GST, is pegged at Rs 121 crore and  is to be executed in 545 days.

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