Rail Vikas secures contract from MGVCL, shares surge.

Rail Vikas Nigam Ltd’s shares were up by 12.04 per cent after the company revealed that it has received a Letter of Acceptance from MGVCL for a “Full Turnkey Contract (Design, Supply, and Installation) for the Development of Distribution Infrastructure Work for Loss Reduction at Vadodara, Gujarat under the Revamped Reforms-Based and Results-Linked Distribution Sector Scheme.”

The company reported that it had been awarded a contract by Madhya Gujarat Vij Company Limited. As the project unfolds, it is expected to enhance the distribution infrastructure in Vadodara, aligning with the goals of the Revamped Reforms-Based and Results-Linked Distribution Sector Scheme.

The MGVCL contract is a domestic project and is for a 31-month period. Under this agreement, RVNL will undertake the responsibility of designing, supplying, and installing distribution infrastructure to reduce losses in the Vadodara district. The project cost amounts to ₹322 crore.

HBL