RVNL shares jump 6% on railway order worth Rs 967 crore. Check details

Shares of Rail Vikas Nigam Limited (RVNL) jumped more than 6% on Friday after the company emerged as the lowest bidder for a domestic railway order worth nearly Rs 968 crore.

RVNL on Thursday announced that it had emerged as the lowest bidder (L1) for an EPC order from East Coast Railway for the construction of key bridges on the third and fourth lines between Nergundi-Barang and Khurda Road–Vizianagaram on the Bhadrak–Vizianagaram section.

The order is to be executed over three years at a total cost of Rs 967.93 crore. It involves the construction of major open web steel girder bridges over the Birupa, Mahanadi, Kathjori, and Kuakhai rivers in Odisha.


“It is hereby informed that Rail Vikas Nigam Limited has emerged as the Lowest Bidder (L1) from East Coast Railway for the construction of important bridges on the Bhadrak–Vizianagaram section under EPC mode,” the company said in a statement.

RVNL share price

Shares of the company rose to Rs 311.85 on Friday morning, the highest level in nearly seven weeks. The stock has gained 12% over the past week and 15% in the last month. Over the longer term, the shares have surged around 320% in three years and more than 1,000% in five years.

Railway stocks were mostly trading in the green on Friday morning, with Ircon International jumping more than 10% to lead the gains. Texmaco Rail and BEML rose around 3%, while IRFC, IRCTC, and Titagarh Rail Systems gained nearly 2%.

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