RVNL shares gain on emerging lowest bidder for projects worth Rs 386 crore

The company became the Lowest Bidder (L1) from Central Railway for signalling and telecommunication work to provide Automatic block signalling in the Khapri-Sewagram Section of Nagpur Division.

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Rail Vikas Nigam Limited (RVNL) saw a 1% increase in its share price during the opening trade on March 12. This was after the company won two projects worth Rs 386 crore. At 09:24 am, Rail Vikas Nigam was trading at Rs 247.65, which was up by Rs 2.35 or 0.96%, on the BSE.

The company became the Lowest Bidder (L1) from Central Railway for signalling and telecommunication work to provide Automatic block signalling in the Khapri-Sewagram Section of Nagpur Division. The project cost is Rs 47,36,54,438.19 and will be completed within 12 months.

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Also, the company emerged as the lowest bidder (L1) from Maharashtra Metro Rail Corporation Limited for the design and construction of an elevated viaduct of Length 4.519 Kms from CH: (-) 1079.899m to CH: (-) 5599.298m between PCMC and NIGDI (Bhakti Shakti) on the NorthSouth Corridor of Pune Metro Rail Project- Reach l -Extension.

The project cost is Rs 339,23,39,131.520 and is to be completed in 130 months.

Orders Win in March

The company has recently received a letter of award (LoA) from the Himachal Pradesh State Electricity Board for the development of distribution infrastructure in both the North and South zones of the state. These projects are under the revamped reforms-based and results-linked distribution sector scheme, which aims to reduce losses.

The total cost of the project for the North zone is Rs. 409.65 crore and it is expected to be completed within 24 months. Similarly, the project for the South zone has a total cost of Rs. 888.56 crore and also has to be completed in 24 months.

In addition to these projects, the company has also received another LoA for the supply, installation, testing, and commissioning of 11 KV Line KV-associated works. This includes the augmentation of 11 KV Line conductors, LT AB cabling, and the conversion of LT Bare conductor to AB cabling, among other things. This project is under the Revamped Reforms-based and Results-linked, Distribution sector (Package-11) in various districts of MPPKVVCL, Jabalpur Company area. The order is worth Rs. 251 crore and also has to be completed in 24 months.

On March 9, the company in a joint venture (JV) with URC received a Letter of Acceptance (LoA) worth Rs 543 crore from Madhya Pradesh Metro Rail Corporation Limited (MPMRCL).

The project is for part design and construction of elevated viaduct, 5 elevated Metro Rail Stations (viz. Shaheed Bagh, Khajrana Chauraha, Bengali Chauraha, Patrakar Colony & Palasia Chauraha) and Ramp between Chainages 31+755 to 34+898.061 & 3+669.547 to 5+862 for Indore Metro Rail Project, to be completed in 1092 crore. The share of RVNL is 51 percent.

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