Shares of Rail Vikas Nigam Ltd (RVNL) soared 7% on 31 December after the company announced emerging as the lowest bidder (L1) for receiving multiple projects worth Rs 541 crore from Indian Railway. 

The company announced that they have emerged as L1 for a project worth Rs 404.40 crore from East Coast Railway for the Koraput-Singapur Road Doubling. 

The project encompasses the construction of 27 key bridges, comprising 22 major bridges and 5 road overbridges (ROBs), along with associated earthworks for approach formations, protective structures, and other related tasks. This work is scheduled between Tikiri and Bhalumaska stations as part of the Waltair Division’s Koraput-Singapur Road Doubling Project.

The company has also emerged as the lowest bidder for a Central Railway project involving the design, supply, installation, testing, and commissioning of a 132/55 KV traction substation, sectioning posts (SPs), and sub-sectioning posts (SSPs) in a 2×25 KV traction system (Scott Connected Transformer) for the Bhusaval-Khandwa section. Valued at  Rs 137.15 crore, the project is expected to be completed within 24 months, according to the company.

Founded in 2003, RVNL is a public sector undertaking (PSU) under the Ministry of Railways. The Government of India is dedicated towards developing, constructing, and implementing railway infrastructure projects across India. 

At 3:02 pm, the shares of RVNL were trading 2.16% higher at Rs 2,361.40 on NSE.  

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