Rail Vikas Nigam Ltd. (RVNL) emerged as the lowest bidder at Rs 405 crore for a project from East Coast Railway concerning work for the third railway line between Khurda Road and Gangadharpur, as per an exchange filing on Thursday. The work will take place over a period of 30 months.
This chiefly involves the construction of roadbeds, minor and major bridges, railway underpasses, track laying, utility shifting and electrical work as well as signalling and telecommunication works.
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It further involves works such as General Service Works, including power supply arrangements, shifting and modification of High Tension and Low Tension lines.
The third line will be between Nergundi-Barang (22 Km) and Khurda Road Vizianagaram (363km) on Bhadrak-Vizianagaram Section (385km).
This development comes after RVNL's announcement on Aug. 20 that it had received a Letter of Acceptance from East Coast Railway for a Rs 161.02 crore project.
The order involves the provision of Multi-Section Digital Axle Counter systems to improve reliability in the Automatic Block Signalling section from MZY to KUR, along with work at several stations under the KUR division of East Coast Railway.
RVNL Share Price Movement
Share price of Rail Vikas Nigam Ltd. saw a 1.60% uptick to settle at Rs 209.30 at the end of the day's trade, compared to a 0.17% downturn of the NSE Nifty 50.
The stock opened at Rs 207.20, compared to its previous close of Rs 206.00. During today's trading session, Rail Vikas Nigam Ltd. share price moved in the range of Rs 207.20 to Rs 211.52.
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Looking at its last 52-week performance, the stock has touched a low of Rs 203.83 and a high of Rs 400.70. On the performance front, Rail Vikas Nigam Ltd. share price is down 37.45% on a year-on-year basis.
The market capitalization of Rail Vikas Nigam Ltd. is Rs 75,915.58 crore, with a P/E ratio of 35.58.
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