Shares of Rail Vikas Nigam Ltd. will be in focus on Friday after emerging as the lowest bidder for an East Coast Railway order worth Rs 968 crore, according to a press release from the company on Thursday.
The public sector undertaking firm will work on the third and fourth line between Nergundi-Barang (spanning 22 km) and Khurda Road-Vizianagaram (spanning 363 km) on Bhadrak-Vizianagaram section of 385 km.
The company will also undertake the construction of key bridges over rivers Birupra, Mahanadi and Kathjori on EPC basis.
The work will be undertaken over a period of three years, RVNL added.
The development comes days after RVNL secured three contracts from the National Mineral Development Corp. in February, worth nearly Rs 2,000 crore for expanding its construction portfolio in Chattisgarh.
Shares of RVNL on Thursday closed 2.38% higher at Rs 293.89 apiece, as compared to a 0.14% decline in the Nifty 50. The stock has declined by 17.74% on a year to date basis, and is down by 19.93% over the past year.
Out of the three analysts tracking the company, one has recommended a 'hold', while two suggest 'sell'.
ALSO READ: RVNL Secures Three NMDC Contracts Worth Nearly Rs 2,000 Crore
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