Shares of Rail Vikas Nigam Ltd. are trading flat after touching a day’s high of Rs 587 on 27th August, following the company’s announcement that it emerged as the lowest bidder for a southern railway project.

This order involves providing MSDAC with existing DCTC at stations to serve as dual detection and replacing balance AFTCs between Chennai Beach – Temburu and Chennai-Gudur automatic block signalling sections in the Chennai Division of Southern Railway.

The company must complete this Rs 111 crore order within the next 18 months.

Last week, the company signed a MoU with Malaysia-based Dhaya Maju Infrastructure to collaborate on railway infrastructure projects across all ASEAN countries.

The company reported that its current order book stood at Rs 83,221 crore at the end of the June quarter, providing visibility for the next four years.

They noted a revenue decline during the quarter, attributed to the geopolitical situation in the Maldives, and nearly Rs 250 crore in pending claims from metro authorities in Madhya Pradesh.

At 2:34 PM, the shares of RVNL were trading 0.29% lower at Rs 575.55 on NSE.

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