Shares of Rail Vikas Nigam rose more than 4% in morning trade on April 3, winning multiple orders worth Rs 721 crore.

Rail Vikas Nigam has received the Letter of Acceptance (LoA) from the National Highways Authority of India (NHAI) to construct the six-lane elevated Kona Expressway in West Bengal on an EPC basis.

The order is worth Rs 720.67 crore and will be executed within 910 days.

The company’s joint venture has also secured an LoA from the Ministry of Railways for the manufacture and maintenance of Vande Bharat trainsets, including upgrading government manufacturing units and trainset stations.

The total quantity is 120 columns, costing Rs 120 crore per column. The company holds 25% of the shares and will be completed within 82 months.

In addition, a consortium (RVNL and Tracks & Towers Infratech) received an LoA from NHAI for the “Construction of the 6-lane Greenfield Varanasi-Ranchi-Kolkata Expressway with NH-22 at the junction of Sonepurbigha Village near Chatra, under Bharatmala Pariyojana, Jharkhand State Hybrid annuity model.

The project cost is Rs 1,271.98 crore, and RVNL’s share is 49%.

At 9:25 am, Rail Vikas Nigam quoted Rs 71.08, up Rs 2.48 or 3.62% on the BSE.

The stock hit a 52-week high of Rs 84.15 and a 52-week low of Rs 29 on November 29, 2022, and June 21, 2022, respectively. Currently, it is trading 15.53% below its 52-week high and 145.1% above its 52-week low.