Rail Vikas Nigam (RVNL) saw its share price rise by 3 percent during early trading on June 18, following the company’s successful bid for a contract worth Rs 160 crore from East Coast Railway. At 09:38 am, RVNL was trading at Rs 403.50 on the BSE, marking an increase of Rs 13.50 or 3.46 percent.
According to RVNL, they emerged as the lowest bidder (L1) for providing an automatic block signaling system with dual MSDAC and modifications at existing stations in the Jakhapura-Nergundi, Khurda Road-Bhusundpur & Bhusundpur-Golanthra sections of Khurda Road Division, East Coast Railway. The contract is scheduled to be completed within 24 months.
Additionally, RVNL has been actively securing contracts recently, including projects with Central Railway, Bangalore Metro Rail Corporation Ltd., Southern Railway, NTPC, Dakshin Haryana Bijli Vitran Nigam Limited, and Eastern Railway, among others.
RVNL’s stock has shown resilience, reaching a 52-week high of Rs 424.95 recently and a low of Rs 116.15 last year, reflecting a significant increase of 247.4 percent from its lowest point.
