Rail Vikas Nigam shares gain JV bags project worth Rs 252 crore in Gujarat

Shares of Rail Vikas Nigam gained more than 2 percent in the early trade on March 24 after company announced that its JV bagged project worth Rs 252 crore in Gujarat.

Rachana -RVNL JV has received LOA for up gradation to six lane with paved shoulder of Sarkhej-Changodar Section of NH-8A (New NH-47) for Ahmedabad- Bagodara-Rajkot Road on EPC mode in the State of Gujarat (Package-7), Rail Vikas Nigam said in a regulatory filing.

The project cost is Rs 252,21,15,875.00, it added.

The share of Rachana Construction Co., Mehsana in the project is 60 percent and Rail Vikas Nigam Limited (RVNL) holds 40 percent share.

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The order has been awarded by Office of the Executive Engineer, National Highway Division, Ahmedabad.

The contract is to be completed in 30 months.

At 09:18 hrs Rail Vikas Nigam was quoting at Rs 65.84, up Rs 1.18, or 1.82 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.