Shares of Rail Vikas Nigam Ltd (RVNL) shot up 4% on Friday 30 August after the PSU railway company secured a Letter of Acceptance (LoA) from Ser HQ Electrical/South Eastern Railway.

In its regulatory filing, the company said, “Rail Vikas Nigam Limited has received a Letter of Acceptance from SER HQ- ELECTRICAL/SOUTH EASTERN RAILWAY.”

The scope of the project entails to design, supply, erect, test, and commission 132 kilovolt kV Sectioning posts (SPs), Sub sectioning posts (SSPs), and Traction Substation in the 2×25 kV system on the Kharagpur division of South Eastern Railway to meet 3000MT.

The total size of the order is worth around Rs 202.86 crore and has to be completed in 18 months.

Earlier on 27 August, RVNL emerged as the lowest bidder (Lq) for the provision of MSDAC with existing DCTC at stations (To serve as Dual detection) from the Southern Railway for a total consideration of Rs 111 crore, and has to be executed in 18 months. 

Moreover, on 28 August, RVNL signed a Memorandum of Understanding (MoU) with Patel Engineering to collaborate on hydro and other infrastructure projects. This partnership aims to create a framework that allows both companies to leverage their strengths and work together effectively on opportunities within India and internationally.

At 3:30 pm, the shares of Rail Vikas Nigam closed 4.10% higher at Rs 603.55 on NSE.

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