Rail Vikas Nigam (RVNL) share price rose nearly 2 percent in the opening trade on September 23 following the company emerged as lowest bidder for Southern Railway project.
At 09:20am Rail Vikas Nigam was quoting at Rs 364.75, up Rs 5.80, or 1.62 percent, on the BSE.
".... emerges as the lowest bidder (L1) from Southern Railway for design, supply, erection, testing & commissioning of traction sub stations (Scott-Connected) inclusive of power quality compensating equipment with associated switching posts (SP/SSP) for 2x25 kV AT Feeding System and SCADA & Automatic Fault Locator (AFL) in Jolarpettai Jn. - Salem Jn. (JTJ-SA) section of Salem division of Southern Railway in connection with mission 3000MT loading target,” company said in its release.
The cost of the said project is Rs 145,34,66,865.48 and to be executed in 540 days.
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On September 10, the company emerged as the lowest bidder for project worth Rs 169.48 crore of West Central Railway.
In the month of August, the company has signed a joint venture agreement with Texmaco Rail & Engineering for undertaking projects in the railway and allied infrastructure sectors with RVNL holding at 51 percent.
In the previous trading session, the share closed at Rs 358.95, down Rs 4.45, or 1.22 percent.
The share touched a 52-week high of Rs 535.00 and a 52-week low of Rs 295.25 on 23 September, 2024 and 07 April, 2025, respectively.
Currently, the stock is trading 31.82 percent below its 52-week high and 23.54 percent above its 52-week low.
The market capitalisation of the company stands at Rs 76,051.11 crore.
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