RVNL Stock Trades Flat Despite Rs 201-Crore Order From East Coast Railway

Shares of Rail Vikas Nigam Ltd (RVNL) are trading flat on 30th December after touching a day’s high of Rs 373.05, despite the company saying on Monday (29th December) that it has emerged as the lowest bidder (L1) for a project awarded by East Coast Railway.

RVNL has won a project from East Coast Railway to set up a wagon periodical overhaul (POH) workshop at Kantabanji. The workshop will have a capacity of 200 wagons. The total project cost is Rs 201.23 crore (excluding GST), and RVNL was the sole bidder. The project is expected to be completed in 18 months.

Earlier in December, RVNL received a letter of acceptance from Southern Railway for a traction power project worth Rs 145.35 crore. The contract includes the design, supply, installation, testing, and commissioning of traction substations, power-quality equipment, and switching posts. Additionally, it involves a 2×25 kV feeding system, and SCADA and automatic fault locator systems for the Jolarpettai-Salem section.

This project supports Indian Railways’ Mission 3000 MT freight-loading target. It will be executed over 540 days. RVNL confirmed that the order is part of its normal business. It was awarded by a domestic entity, with no promoter-group or related-party involvement.

At 11:28 AM, shares of RVNL were trading 0.97% lower at Rs 364.05 on NSE.

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