Rail Vikas Nigam Limited (RVNL) shares were trading 4.56% higher at ₹458.90 on the NSE as of 9:57 am
Recent Key Developments –
- East Central Railway Contract: On October 28, RVNL emerged as the lowest bidder for a ₹186.77 crore contract with East Central Railway. The project involves upgrading the electric traction system in the Dhanbad Division’s Gomoh-Patratu section, expected to be completed in 540 days.
- International Expansion: RVNL registered a wholly-owned subsidiary in Saudi Arabia on October 21, 2024, marking a strategic move toward global expansion.
- East Coast Railway Project: RVNL secured a ₹283.7 crore contract for additional railway lines in the eastern region, involving bridge construction, earthwork, and track laying.
- Electrification Project: Awarded a contract for electrifying the Garwa Road-Mahadiya section to improve freight transport efficiency.
- Collaboration with Engineers India Limited (EIL): RVNL signed an MoU with EIL to explore joint projects and market insights, strengthening its infrastructure footprint.
These developments reflect RVNL’s growth strategy, expanding both domestically and internationally, which has positively impacted investor sentiment, leading to today’s share price increase.
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