Shares of Rail Vikas Nigam Limited (RVNL) were trading in the green and 1% higher on Monday, 28 October, after the company announced that it had emerged as the lowest bidder (L1) for a significant infrastructure project granted by the North Eastern Railway, as per its routine business operations.

The project entails the building of the substructure of Important Bridge No. 50, which consists of 14 spans of 61.0 metres each, with a Double D-type well foundation intended for a double line with RDSO 25T axle loading standards.

The bridge will be built over the Gandak River between Paniyahwa and Valmikinagar stations as part of the North Eastern Railway’s doubling project between Gorakhpur Cantt and Valmikinagar. The overall project value is Rs 165.54 crore (including GST).

North Eastern Railway won the contract, and the project’s implementation will boost RVNL’s status as one of India’s premier railway infrastructure development enterprises.

On 17 October, RVNL was also the lowest bidder (L1) in a reverse auction held by South Central Railway for the design, supply, erection, testing, and commissioning of an OHE upgrade of the existing 1x25kV system to a 2x25kV AT feeding system, including feeder and earthing works in the Secunderabad Division’s Ramgundam (RDM) – Kazipet (KZJ) section.

RVNL is a vital actor in India’s railway infrastructure development, with a total project cost of Rs 144.44 crore (including taxes) and an 18-month implementation duration.

However, at 1:09 pm, the shares of Rail Vikas Nigam were trading 0.14% lower at Rs 170 on NSE.

Discover the next big investment! Unicorn Signals’ IPO screener helps you identify promising initial public offerings. Download Unicorn Signals and get ahead of the curve! Sign Up Now & Find Your Next IPO Gem!