Shares of Rail Vikas Nigam Limited surged 7% on 26 March after the company announced signing a Memorandum of Understanding (MoU) with the Airports Authority of India.

In its regulatory filing, the company said that it had signed an agreement for the construction of a subway/underpass to connect the operational area to the Airport Authority of India’s residential colony in Kolkata for a total consideration of Rs 229.43 crore.

Earlier last week, the company emerged as the lowest bidder for a project worth Rs 167.28 crore by South Eastern Railway. The project entails the design, supply, construction, testing and commissioning for the upgradation of the electric traction system from 1 x 25 kilovolt to 2 x 25-kilovolt traction system for the Rajkharsawan-Nayagarh-Bolani section of the Chakradharpur division of the South Eastern Railway in order to meet the 3,000 million tonnes loading target.

Furthermore, in March, the company secured two projects from Central Railway and Maharashtra Metro Rail Corporation Limited for a total consideration of Rs 386 crore.

The company has announced that it has received a letter of award from the Himachal Pradesh State Electricity Board to develop a distribution infrastructure in both the north and south zones of the state.

At 3:00 pm, the shares of Rail Vikas were trading 5.77% higher at Rs 261.10 on NSE.