Shares of Rail Vikas Nigam Ltd (RVNL) were trading in the red and 1% lower on 19 January despite the company announcing securing an order worth Rs 87 crore from South Eastern railway. 

In its regulatory filing, the company said, “RVNL emerges as the lowest bidder from South Eastern Railway for supply, installation and commissioning of IP based video surveillance system (VSS) in LHB coaches with 4 cameras version 3.1 or latest including Rugged Hand Held Terminal (HHT)/ Tablet along with 8 TB external SSD.”

The total cost of the contract is Rs 87,55,64,424 and is to be executed in 10 months from the date of issue of purchase order.

Earlier in this month, the company received LOA from East Coast Railway for setting up a wagon POH workshop of 200 Nos. capacity at Kantabanji of Rs 201,23,47,556.55.

The order is worth Rs 87.55 crore, and the company will complete its execution within 10 months from the date of the purchase order.

Rail Vikas Nigam undertakes a wide range of railway infrastructure projects, including new line construction, track doubling, gauge conversion, railway electrification, metro rail works, workshops, major bridges, cable-stayed bridges, and institutional buildings.

At 1:45 pm, the shares of Rail Vikas Nigam were trading 0.98% lower at Rs 331.85 on NSE. 

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