RVNL emerges lowest bidder for Rs 251 cr Jabalpur project; shares at 52-week high

The contract is awarded by M.P. Madhya Kshetra Vidyut Vitaran Co Ltd and to be completed in 24 months.

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Rail Vikas Nigam (RVNL) shares were up 4.6 percent at Rs 230.90 in early trade on January 16 after the company emerged as the lowest bidder for a Rs 251 crore Jabalpur project.

The share touched a 52-week high of Rs 231.80 on the BSE.

” … emerges as the lowest bidder (L1) for supply, installation, testing and commissioning of 11 KV Line associated works such as 11 KV Line Bifurcation, 11 KV line Interconnection, 11 KV Line conductor Augmentation, LT AB cabling augmentation and conversion of LT Bare conductor to AB cabling under Revamped Reforms-based and Results-linked, Distribution sector (Package-11) in Jabalpur (City), Jabalpur (O&M), Katni, Mandla, Dindori, Seoni, Chhindwara, Narsinghpur, Balaghat, Shahdol, Anuppur and Umariya Circles of MPPKVVCL, Jabalpur Company area,” the company said in its release.

The said contract is awarded by M.P. Madhya Kshetra Vidyut Vitaran Co Ltd and is to be completed in 24 months.

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Earlier this month, the KRDCL-RVNL JV secured the approval for a significant upgrade of Varkala Sivagiri railway station, with a project cost of Rs 123.36 crore.

In this partnership, KRDCL takes the lead with a 51 percent share, while RVNL holds 49 percent. The said order will be executed in 30 months as stated in an official filing by RVNL with the exchange.

In December 2023, the RVNL-URC joint venture emerged as the lowest bidder for part design and construction of an elevated viaduct, five elevated metro rail stations (such as Shaheed Bagh, Khajrana Chauraha, Bengali Chauraha, Patrakar Colony, and Palasia Chauraha) and ramp for a Indore Metro Rail Project.

Madhya Pradesh Metro Rail Corporation has awarded the Rs 543 crore to be completed in 1,092 days.