"RVNL Shares Surge 3% on Multitude of Order Wins; Mark 52% Increase in 3 Months"

Shares of Rail Vikas Nigam Limited (RVNL) experienced a significant surge, climbing as much as 3.13% to reach an intraday high of Rs 385.50 per share on Tuesday. This uptick in share price followed the announcement of multiple order wins by the state-owned railway company on June 10, after market hours.

In an exchange filing, RVNL disclosed, "It is hereby informed that Siemens-RVNL consortium has received Letter of Acceptance (LoA) from Bangalore Metro Rail Corporation Ltd for engineering, supply, erection, testing and commissioning of 33 KV distribution, 750V DC third rail traction electrification including traction substations, auxiliary substations and SCADA system for Phase-2A & Phase 2 B." The project, valued at Rs 394.2 crore, is scheduled to be completed within 130 weeks, with Siemens Ltd holding a 70% share and RVNL owning the remaining 30%.

In another significant development, RVNL emerged as the Lowest Bidder (L1) for a project worth Rs 138.45 crore from Central Railway. RVNL stated, "It is hereby informed that Rail Vikas Nigam Limited emerges as the Lowest Bidder (L1) from Central Railway for 'OHE modification work for Up-gradation of existing 1 x 25 kV Electric Traction System to 2 x 25 kV AT Feeding System in Amla-Nagpur Section in Nagpur division of Central Railway to meet 3000 MT loading target.'" This order is expected to be completed within 24 months.

BS