Shares of Rail Vikas Nigam Limited (RVNL) soared 7% on 17 October after the company emerged as the lowest bidder (L1) for a project worth Rs 270 crore from Maharashtra Metro Rail Corporation. 

In its regulatory filing, the company said, “It is hereby informed that Rail Vikas Nigam Limited emerges as the Lowest Bidder (L1) From Maharashtra Metro Rail Corporation Limited for “construction of (a) Elevated Metro Stations Seven Nos. In Reach 3a, Namely- (1) Hingna Mount View, (2) Rajiv Nagar, (3) Wanadongri, (4) Apmc, (5) Raipur, (6) Hingna Bus Station, (7) Hingna (B) Elevated Metro Stations Three Nos. In Reach 4a, Namely- (1) Pardi (2) Kapsi Khurd (3) Transport Nagar of Nmrp Phase-2.” 

Under the order, RVNL is responsible for constructing a total of ten elevated metro stations as part of the NMRP Phase-2 project. Seven stations will be built in Reach 3A, including Hingna Mount View, Rajiv Nagar, Wanadongri, APMC, Raipur, Hingna Bus Station, and Hingna, while three stations in Reach 4A will include Pardi, Kapsi Khurd, and Transport Nagar.

Earlier in October, the company had emerged as L1 for an East Coast railway project for the third and fourth line between Jarapada & Talcher Road and the construction of a new line between Angul-Balram, which is part of the MCRL Internal Corridor Phase-I doubling project.

The scope of the order includes the execution of remaining earthwork for formation, construction of minor and major bridges, P-way linking works, supply of ballast, S&T buildings, level crossings, and other miscellaneous tasks between Jarapada and Talcher Road.

At 12:34 pm, the shares of RVNL were trading 3.56% higher at Rs 496.65 on NSE.

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