Shares of Rail Vikas Nigam Ltd (RVNL) rallied 5% on 11 June after the company announced emerging as the lowest bidder for a project from Central Railway. 

In its regulatory filing, the company said, “RVNL emerged as the lowest bidder from Central Railway for OHE modification work for up-gradation of existing 1 x 25 kV electric traction system to 2 x 25 kV AT feeding system in Amla-Nagpur section in Nagpur division of Central Railway to meet 3000 MT loading target.”

The cost of work is Rs 138.45 crore and has to be completed in a period of 24 months. 

Furthermore, Siemens-RVNL Consortium has also secured a Letter of Acceptance (LoA) from Bangalore Metro Rail Corporation Ltd for engineering, supply, erection, testing and commissioning of 33 kilovolt (kV) distribution 750  volt DC third rail traction electrification, including auxiliary substations, traction substations, and SCADA system for Phase-2A & Phase 2 B for a total consideration of Rs 3,94 crore. 

In this consortium, the company holds a 30% stake, whereas Siemens holds a 70% stake. 

Earlier on 7 June, M/s KRDCL-RVNL Joint Venture emerged as the lowest bidder (L1) for the provision of automatic signalling on the Ernakulam JN(ERS) – Vallattol Nagar (VTK) section on the B-route of Thiruvananthapuram division in Southern Railway from Southern Railway. 

At 12:06 pm, the shares of Rail Vikas Nigam were trading 4%  higher at Rs 388.90 on NSE.