Shares of Rail Vikas Nigam (RVNL) soared 13% on 10 July after the company announced securing orders worth Rs 389 crore.  

The company has received a Letter of Acceptance (LoA) from Maharashtra Metro Rail Corporation (Nagpur Metro) for the construction of six elevated metro stations under Reach 2B of the NMRP Phase 2. These stations include Cantonment, Kamptee Police Station, Kamptee Municipal Council, Dragon Palace, Golf Club, and Kanhan River Metro Station. The total project cost is Rs 187.34 crore, and the project is expected to be completed within 30 months.

Furthermore, RVNL has emerged as the lowest bidder (L1) from South Eastern Railway for the design, supply, erection, testing, and commissioning of a 132 KV traction substation, sectioning post (SPs), and sub-sectioning post (SSPs) on the Kharagpur—Bhadrak section of the Kharagpur division of South Eastern Railway. This project, which costs Rs 202.87 crore, is scheduled for completion in 18 months.

Moreover, around 2.4 crore shares, representing 1.2% of the company’s stake, changed hands on the exchanges via a block deal at an average price of Rs 580 per share, taking the transaction to Rs 1,407.7 crore. However, the buyers and sellers involved in the transaction have yet to be identified. 

At 3:30 pm, the shared of RVNL closed 13.50% higher at Rs 616 on NSE.

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