Shares of Rail Vikas Nigam Limited (RVNL) rose by 3.11% to ₹484.25 following the announcement of a significant contract win from the East Central Railway. The stock’s upward movement brought the company’s market capitalization to approximately ₹1,00,967.10 crore, adding value to RVNL’s standing in the market.
The contract, valued at ₹180.1 crore, involves the design, supply, erection, testing, and commissioning of a 2x25KV feeder line along with 25KV Overhead Equipment (OHE) modification. This project is aimed at enhancing the railway’s loading capacity, setting a target of 3,000 MT for both UP and DN lines on the Garwa Road-Mahadiya section within the Dhanbad Division.
The work scope, covering a total of 229/458 RKM/TKM, showcases RVNL’s capabilities in advanced railway electrification projects. Scheduled for completion within 18 months, this project reinforces the company’s role in India’s infrastructure development, specifically in the railway sector.
As of the latest trading data, RVNL’s stock reflects positive investor sentiment towards its continued contract wins and infrastructure projects, contributing to the company’s robust market cap growth.
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