RVNL Rises 2% After Emerging as Lowest Bidder for ₹145 Cr Southern Railway Project
Shares of Rail Vikas Nigam (RVNL) gained nearly 2% in early trade on September 23 after the company emerged as the lowest bidder (L1) for a Southern Railway project worth ₹145.34 crore. The contract involves design, supply, erection, testing, and commissioning of traction substations, SCADA systems, and fault locator equipment in the Jolarpettai–Salem section under Mission 3000MT. The project is to be executed in 540 days. This comes after RVNL bagged another L1 project worth ₹169.48 crore from West Central Railway earlier this month. In August, the company also formed a JV with Texmaco Rail & Engineering for railway and allied infrastructure projects. Despite trading 31.8% below its 52-week high of ₹535, RVNL remains 23.5% above its 52-week low of ₹295, with a market cap of ₹76,051 crore. Hashtags: #RVNL #Railways #InfraGrowth #StockMarket #Mission3000MT #RailProjects #IndianRailways