Shares of Rail Vikas Nigam Ltd (RVNL) surged nearly over 4% in early trade on Monday 1st April, after the state-owned railway company emerged as the lowest bidder for various projects.
RVNL has been declared the lowest bidder (L1) for the design, supply, erection, testing, and commissioning for upgrading the electric traction system for the Kharagpur section of the Kharagpur division of South Eastern Railway.
This project aims to meet the 3000 MT loading target and is valued at ₹148.26 crore.
In a separate regulatory filing, the railway PSU also informed that it has emerged as the lowest bidder for another project worth ₹95.95 crore from NFR-Const HQ-Electrical/NF RLY Construction.
The company’s strong performance in securing these significant project orders has boosted investor confidence, leading to a surge in its share price during early trading hours.
As of 10:34 am, Rail Vikas Nigam Ltd’s shares were trading 2.97% higher at ₹260.40 on the National Stock Exchange (NSE).
