Shares of Rail Vikas Nigam Ltd (RVNL) hit a 52-week high of Rs 231.95 on 16 January after the company announced emerging as the lowest bidder for a Rs 251 crore Jabalpur project. 

In its regulatory filing, the company said, “RVNL has emerges as the lowest bidder (L1) for supply, installation, testing and commissioning of 11 KV Line associated works such as 11 KV Line Bifurcation, 11 KV line Interconnection, 11 KV Line conductor Augmentation, LT AB cabling augmentation and conversion of LT Bare conductor to AB cabling under Revamped Reforms-based and Results-linked, Distribution sector (Package-11) in Jabalpur (City), Jabalpur (O&M), Katni, Mandla, Dindori, Seoni, Chhindwara, Narsinghpur, Balaghat, Shahdol, Anuppur and Umariya Circles of MPPKVVCL, Jabalpur Company area.”

The company has to execute the order 24 months and was awarded by M.P. Madhya Kshetra Vidyut Vitaran Co Ltd. 

Earlier this month, the company’s joint venture, KRDCL-RVNL, secured the approval for a significant upgrade of Varkala Sivagiri railway station for a total project cost of Rs 123.36 crore. 

In this joint venture, KRDCL will take the lead with a 51% share whereas the company hold 49% stake in the JV. 

In December, the company’s joint venture, RVNL-URC, emerged as the lowest bidder for part design and construction of an elevated viaduct, five elevated metro rail stations that includes Khajrana Chauraha, Bengali Chauraha, Shaheed Bagh, Patrakar Colony, and Palasia Chauraha, and a ramp for the Indore Metro Rail Project.

At 12:00 pm, the shares of Rail Vikas Nigam were trading 3.22% higher at Rs 227.75 on NSE.