RVNL gains 2% on winning project worth Rs 808 crore

The share touched a 52-week high of Rs 144.50 on 8 May 8, 2023 and a 52-week low of Rs 30.30 on July 15, 2022

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Rail Vikas Nigam Limited (RVNL) share price gained more than 2 percent in the early trade on July 10 after the company emerged as the lowest bidder for a Rs 808-crore project.

Rail Vikas Nigam emerged as the lowest bidder (L1) for rehabilitation and up gradation from four to eight-laning of the Chandikhole- Paradip Section of NH-53 in Odisha on HAM mode.

The contract has been awarded by the National Highways Authority of India (NHAI) and at a cost of Rs 808,48,28,700, the company said. The contract is to be executed in 24 months.

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In June, the company emerged as the lowest bidder for a Maharashtra Metro Rail Corporation Limited (MMRCL) project for the designing and the construction of an elevated metro viaduct. The cost of project is around Rs 395 crore.

It also emerged as the lowest bidder for MPPKVVCL Jabalpur Company Area projects worth of Rs 281.04 crore.

At 9.39 am, Rail Vikas Nigam was quoting at Rs 123.50, up Rs 1.55, or 1.27 percent, on the BSE.

The share touched a 52-week high of Rs 144.50 on 8 May 8, 2023 and a 52-week low of Rs 30.30 on July 15, 2022. The stock is trading 14.53 percent below its 52-week high and 307.59 percent above its 52-week low.