RVNL secures order worth ₹283.69 crore from East Coast Railway

Rail Vikas Nigam Ltd (RVNL) has secured an order worth ₹283.69 crore from East Coast Railway. According to the company's BSE filing on Tuesday, October 1, the order is expected to be completed in the coming two years.

The company emerged as the lowest bidder for the project. According to the company's exchange filing, the project involves work orders for the 3rd & 4th lines between Jarapada and Talcher Road and constructing a new line between Angul-Balram (MCRL Inner Corridor Phase-I Doubling 14 Kms). It also involves execution of balance earthwork in formation, minor bridges, major bridges, p.way linking works, supply of ballast, S&T buildings, level crossing and other miscellaneous works between Jarapada and Talcher Road excluding station yards in connection with 3rd & 4th line of Jarapada-Budhapank Project and between Angul & Balram including yards of MCRL Inner Corridor Phase-I Doubling.”

The state-owned Rail Vikas Nigam Ltd shares are trading 1.04 per cent lower at ₹524.95 in Tuesday's market session as of 2:42 p.m., compared to ₹530.45 in Monday's market close. The company filed the information in exchanges during market operating hours.

News agency ANI reported that the company's stock gained nearly 190 per cent in 2024 and has increased close to 205 per cent over the last 12 months.

Mint reported earlier in August that the MSCI India index has included Rail Vikas Nigam Ltd shares and six other stocks as a part of its August reshuffle. 

About RVNL 

Rail Vikas Nigam Ltd is Navratna CPSE under the Ministry of Railways, Government of India, which aims to bridge the infrastructure deficit on Indian Railways.

The company has “migrated from original mandate of 'rail infra' projects, to the ever expanding opportunities of All Infra i.e. from #Local RailInfra to #GlobalAllInfra,” as per the company's website.

The company is under the Ministry of Railways and acquired the title of Navratna last year. The company can invest close to ₹1,000 crore without the involvement of the central government in the deal due to its Navratna status.