Rail Vikas Nigam Limited (RVNL) shares rose by 9% after its joint venture (JV) with SCPL, RVNL-SCPL, secured a ₹837.67 crore contract from Eastern Railway. The project involves extensive work, including earth cutting and filling, construction of bridges, level crossings, drains, and track laying between Kalipahari and Pradhankhuta for a new multi-track railway line.
RVNL holds a 74% stake in the JV, with SCPL owning the remaining 26%. The project is expected to be completed in 36 months. This win reinforces RVNL’s growing reputation in large-scale infrastructure projects, boosting investor confidence.
As of 9:22 am, RVNL shares were trading 9.45% higher at Rs 459.90 on the NSE.
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