Rail Vikas Nigam (RVNL) witnessed a 7 percent rise in share price during early trade on June 6, following the company’s successful bid for a contract worth Rs 390 crore.
According to the company’s release, RVNL has been awarded the Letter of Acceptance from Eastern Railway for the construction of the Sitarampur bye-pass line under the Asansol division of Eastern Railway. The project, with a total cost of Rs 390,97,35,276.55, is slated to be completed within 24 months.
In addition to this, RVNL emerged as the lowest bidder for the implementation of SCADA and DMS/OMS works in the Gurugram Revamped Distribution Sector Scheme (RDSS) under Dakshin Haryana Bijli Vitran Nigam Limited. The project, valued at Rs 124,36,80,301.57, is expected to be completed within 30 months.
As of 10:15 am, RVNL shares were trading 7.88% higher at ₹381.15, reflecting investor optimism surrounding the company’s recent contract wins.
