RVNL Soars Over 7% After Securing ₹391 Crore LoA from Eastern Railways

Shares of state-owned Rail Vikas Nigam Limited (RVNL) jumped 7.27% to reach an intraday high of ₹379 per share after securing a Letter of Acceptance (LoA) for an order worth approximately ₹391 crore.

In an exchange filing, RVNL announced, "It is hereby informed that Rail Vikas Nigam Limited has received Letter of Acceptance from Eastern Railway for the construction of the Sitarampur bypass line under the Asansol division of Eastern Railway." Under the contract terms, RVNL will be responsible for constructing the Sitarampur bypass line and is expected to complete the project within 24 months. The project cost is estimated at ₹391 crore.

Based in New Delhi, Rail Vikas Nigam Limited specializes in the construction of rail infrastructure projects across India. Established in 2003, the company is actively involved in various railway projects, including new lines, doubling, gauge conversion, railway electrification, workshops, metro projects, bridges, cable-stayed bridges, and institutional buildings. Additionally, RVNL offers financial resource mobilization services to support its projects. It caters to clients such as Indian Railways, central and state government ministries, departments, and public sector undertakings.

Earlier this week, RVNL also emerged as the Lowest Bidder (L1) for a ₹124 crore order from Dakshin Haryana Bijli Vitran Nigam Limited for implementing SCADA and DMS/OMS works in the Gurugram revamped distribution sector scheme (RDSS).

BS