Shares of Rail Vikas Nigam Ltd. surged by almost 3% to hit a 52-week high at Rs 647 on 15 July after the company secured a project from Central Railway worth Rs 132.6 crore.

The company received a Letter of Acceptance (LoA) from the Central Railway for OHE modification work in the Wardha-Ballarshah section. This project aims to upgrade the existing 1 x 25 KV Electric Traction System to 2 x 25 KV to meet a 3000 million tonnes (MT) loading target. The estimated total cost of this project is Rs 132.59 crore, and it is scheduled to be completed within 2 years. 

Last week, the company secured a Letter of Acceptance from the Maharashtra Metro Rail Corporation (Nagpur Metro) for constructing 6 elevated metro stations under Reach 2B of NMRP Phase 2.

The metro stations include Cantonment, Kamptee Police Station, Kamptee Municipal Council, Dragon Palace, Golf Club, and Kanhan River Metro Station. The total project cost was Rs 187.34 crore, and it is scheduled to be completed in 30 months.

Furthermore, the company also emerged as the lowest bidder from South Eastern Railway for the design, testing, and commissioning of a 132 KV traction substation, sectioning post, & sub-sectioning post on the Kharagpur—Bhadrak section of the Kharagpur division of South Eastern Railway. This project has cost Rs 202.87 crore and is expected to be completed within 3 years.

At 3:30 PM, the shares of Rail Vikas Nigam Ltd. closed 0.92% higher at Rs 982.55 on BSE.