Rail Vikas Nigam Ltd (RVNL) has secured a major project worth ₹283.69 crore from East Coast Railway. According to a company statement filed on October 1, this project is expected to be completed within two years. RVNL was the lowest bidder for the project, which involves the construction of the 3rd and 4th rail lines between Jarapada and Talcher Road, as well as a new line between Angul and Balram. The work includes tasks like earthwork, building bridges, laying tracks, supplying materials, and other related jobs.
As of Tuesday afternoon, RVNL shares were trading slightly lower, down 1.04% at ₹524.95, compared to Monday’s closing price of ₹530.45. Despite this, the stock has performed strongly, gaining almost 190% in 2024 and over 205% in the past year.
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In August, RVNL shares were added to the MSCI India Index, along with six other companies.
RVNL, a Navratna Central Public Sector Enterprise under the Ministry of Railways, focuses on improving rail infrastructure across India. The company, which achieved Navratna status last year, can now make large investments, up to ₹1,000 crore, without needing central government approval.
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