Shares of Rail Vikas Nigam rose 2% on April 21 after a consortium of Siemens and the public sector firm secured two orders from Gujarat Metro Rail Corporation.

As part of the Rail Vikas Nigam Ltd consortium, Siemens Ltd has received two separate orders from Gujarat Metro Rail Company Limited (GMRCL),” a Siemens filing to the BSE confirmed.

The order includes Surat Metro Phase 1 (over 40 km, including 38 stations and 2 depots) and Ahmedabad Metro Phase 2 (over 28 km, including 23 stations and 1 depot).

At 10 am, Rail Vikas Nigam was trading at Rs 78.55 a share, up 1.7% from its previous close on the BSE. The stock has soared 345% over the past three years, compared with a 119% gain last year.

Earlier this month, the company announced it had won a project on the Northern Central Railway.

Rail Vikas Nigam has emerged as the lowest bidder (L1) for the provision of E1-based automatic signalling and continuous track circuits and other associated works, including appropriate indoor alteration of electronic interlocking/RRI/PI stations enroute in Jhansi (incl)-Gwalior (incl) section of Jhansi division of North Central Railway, the company informed the bourses.

The project’s cost (excluding GST) is fixed at Rs 121 crore and will be implemented within 545 days.