RVNL Bags Rs 111 Crore Project From Southern Railways

Rail Vikas Nigam Ltd. emerged as the lowest bidder for a project worth Rs 111 crore from Southern Railways. The company will provide MSDAC with existing DCTC at stations, which will serve as dual detections, according to exchange filings on Monday.

It will also replace balance AFTCs in MAS-GDR and MSB-TBM automatic block signalling sections at Chennai division in Southern Railway.

According to the statement, the public sector firm must complete the order within 18 months.

Earlier, the public sector firm emerged as the lowest bidder for an order worth Rs 739 crore from the Himachal Pradesh State Electricity Board.

On July 24, the company received a contract worth Rs 192 crore from Southeastern Railway for the upgrade of the electric traction system in Jharkhand.

Shares of Rail Vikas Nigam closed 0.06% lower at Rs 576.15 apiece, compared to a 0.02% rise in the benchmark BSE Sensex.