Shares of Rail Vikas Nigam Limited (RVNL) increased to 3.02% on Thursday, 31 October 2024, and hit an intraday high of Rs 479.70 after RVNL announced that it had secured a letter of acceptance (LoA) for an order for around Rs 284 crore from East Coast Railway.

RVNL, via an exchange filing, said, “It is hereby informed that Rail Vikas Nigam Limited has received Letter of Acceptance from East Coast Railway for 3rd & 4th line between Jarapada & Talcher Road and Construction of New line between Angul- Balram (MCRL Inner Corridor Phase-I Doubling 14 Kms).: Execution of balance earthwork in formation, minor bridges, major bridges, P. way linking works, supply of ballast, S&T Buildings, Level Crossing and other Misc. works between Jarapada and Talcher Road excluding station yards in connection with 3rd& 4th line of Jarapada-Budhapank Project and between Angul & Balram including yards of MCRL Inner Corridor Phase-I Doubling.” 

RVNL will be in charge of building the third and fourth lines between Jarapada and Talcher Road, as well as a new line between Angul and Balram (MCRL Inner Corridor Phase-I Doubling, 14 km), in accordance with the order. With the exception of station yards, this includes completing the remaining earthworks, minor and major bridges, track linking projects, ballast supply, signalling and telecommunication buildings, level crossings, and other various projects between Jarapada and Talcher Road as part of the Jarapada-Budhapank Project. It also includes work between Angul and Balram, such as the MCRL Inner Corridor Phase-I Doubling yards.

The project is anticipated to be finished in 24 months and would cost an exact Rs 283,69,90,692.21.

A New Delhi-based business called Rail Vikas Nigam Limited specialises in building rail infrastructure projects all around the nation. New lines, doubling, gauge conversion, railway electrification, workshops, metro projects, bridges, cable-stayed bridge construction, and institution buildings are just a few of the railway projects that the firm, which was founded in 2003, is actively involved in developing and implementing.

At 12:45 pm, the shares of Rail Vikas Nigam were trading 0.74% higher at Rs 468.80 on NSE.

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