Key Points of Rail Vikas Nigam Project Win:
- Rail Vikas Nigam Limited (RVNL) has emerged as the lowest bidder (L1) for a project awarded by Haryana Rail Infrastructure Development Corporation.
- The project involves the design and construction of a new BG railway line for the HORC project, including the construction of twin tunnels using NATM and cut-and-cover methods.
- RVNL will undertake the design and installation of ballast-less tracks and general electrical services for the project.
- The estimated cost of the project is Rs 1,088.49 crore, and it must be executed within 1460 days.
- RVNL’s share price has increased by 3% in early trade on March 20 due to this development.
- In addition to this project, RVNL has won several contracts recently, including the manufacturing cum maintenance of Vande Bharat Trainsets and work orders for Surat Metro Rail Project and Ahmedabad Metro Rail Project Phase-II.
- RVNL’s current share price is trading 23.7% below its 52-week high and 121.41% above its 52-week low on Monday morning.
Key Points of Rail Vikas Nigam Project Win:
Rail Vikas Nigam Emerges as L1 Bidder for Haryana Rail Infrastructure Development Corporation Project, Share Price Up by 3%
Rail Vikas Nigam Limited (RVNL), a leading public sector enterprise under the Ministry of Railways, has emerged as the lowest bidder (L1) for a project awarded by Haryana Rail Infrastructure Development Corporation. This has led to a 3% gain in the RVNL share price in early trade on March 20.
The project involves the design and construction of a new BG railway line for the HORC project, which includes the construction of twin tunnels using NATM and cut-and-cover methods. Additionally, RVNL will undertake the design and installation of ballast-less tracks and general electrical services, including the supply, erection, testing, and commissioning of power and control cable networks, GIS substations, and tunnel lighting systems.
The estimated cost of the project is Rs 1,088.49 crore, and it must be executed within 1460 days. RVNL’s President of India has approved the appointment of Shri AK Khandelwal as a part-time government director on the RVNL board.
RVNL’s share price was quoting at Rs 64.21 at 9:22 am, up by Rs 1.30 or 2.07%. The share touched a 52-week high of Rs 84.15 and a 52-week low of Rs 29 on November 29, 2022, and June 21, 2022, respectively. RVNL is currently trading 23.7% below its 52-week high and 121.41% above its 52-week low on Monday morning.
In addition to the current project, RVNL has recently won several contracts, including the manufacturing cum maintenance of Vande Bharat Trainsets, project worth Rs 111.85 crore, two Southern Railway projects worth Rs 38,97,41,412.65 and Rs 38,40,13,395.48, and work orders for Surat Metro Rail Project and Ahmedabad Metro Rail Project Phase-II.
In February 2023, the company also emerged as the Lowest Bidder for the Provision of Automatic Block Signalling on Madar-Sakhun Section and received LOA for the provision of automatic block signalling with Dual MSDAC, EI/OC Interface and Block Optimization.
About Rail Vikas Nigam:
Rail Vikas Nigam was Incorporated in 2003 by the Govt. of India, it is engaged in the business of implementing various types of Rail infrastructure projects assigned by MoR including doubling, gauge conversion, new lines, railway electrification, major bridges, workshops, Production Units and sharing of freight revenue with Railways as per the concession agreement entered into with Ministry of Railway.
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