Rail Vikas Nigam Limited (RVNL) shares surged 3% after the company received a Letter of Acceptance from East Coast Railway for a crucial project under the Koraput-Singapur Road Doubling initiative. As of 9:15 AM, the shares were trading 2.37% higher at Rs 409.95.
The contract, valued at approximately ₹404.4 crore (inclusive of GST), involves constructing 27 major bridges, including 22 large bridges and 5 Road Over Bridges (ROBs). Additionally, the scope includes earthwork, formation of approaches, protection works, and other critical infrastructure tasks between Tikiri and Bhalumaska stations in the Waltair Division of East Coast Railway. The project has a completion timeline of 30 months.
In the meantime, on January 16, Rail Vikas Nigam Limited has also secured a significant contract from Bharat Sanchar Nigam Limited (BSNL) for the development, creation, upgradation, and operation of the middle-mile network under the Bharat Net initiative. This ambitious project, valued at an impressive ₹9613.42 crore, will be executed under the Design Build Operate and Maintain (DBOM) model, ensuring a comprehensive and seamless implementation of broadband connectivity across rural India.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
