RVNL Bags Rs 903 Crore Order From SJVN for Bihar Project

Rail Vikas Nigam Limited has received a Letter of Award worth Rs 903 crore from SJVN Thermal Private Limited for a construction project related to the 1,320 MW Buxar Thermal Power Project in Bihar. The order involves construction of a permanent siding along with an aerial track connection from the plant boundary to Chausa and Pawani Kamarpur at Buxar. The project will be executed over a period of 36 months and is part of Phase III of the Buxar Thermal Power Project. SJVN Thermal Private Limited is a wholly owned subsidiary of SJVN. RVNL has also clarified that the order is domestic in nature, falls under the company's normal course of business and does not constitute a related-party transaction. The order comes shortly after RVNL emerged as the lowest bidder for another domestic railway infrastructure project worth Rs 404.88 crore, adding to the company's recent order activity. However, despite these order wins, RVNL shares have remained under pressure, with the stock falling for the fourth consecutive month in August. The latest Rs 903 crore award is therefore expected to keep the railway infrastructure stock in focus when trading resumes on Monday, September 7.