RVNL touched a day high of Rs 214.18 on Friday, gaining ground after the company bagged a fresh Rs 405 crore order from East Coast Railway.

RVNL has emerged as the lowest bidder for a project involving the construction of a third railway line between Khurda Road and Gangadharpur in Odisha.

The company announced this development on Thursday evening, after markets had already closed for the day. The actual contract value comes to Rs 404.88 crore, which includes GST.

As part of this project, RVNL will be responsible for building the roadbed, constructing both minor and major bridges, laying tracks, supplying ballast, and handling several other related tasks.

This also covers shifting signalling and telecommunication infrastructure, along with electrification work tied to the project. The entire job is expected to take around thirty months to complete.

To give this some context, the new third line falls under a larger stretch connecting Nergundi-Barang and Khurda Road-Vizianagaram, part of the broader Bhadrak-Vizianagaram section of the railway network.

This isn’t RVNL’s first win from East Coast Railway recently either. Back on 20 August, the company had already secured a separate order worth Rs 161.02 crore from the same client.

That project involves setting up digital axle counter systems meant to improve signal reliability across a specific railway section, along with additional station level work. RVNL is a central government owned company that functions under the Ministry of Railways.

Its work spans a wide range of railway related projects, covering everything from infrastructure development and electrification to signalling and metro rail construction across the country.

At 13:55 pm, RVNL is trading at Rs 211.61 on the NSE, up 1.10% or Rs 2.31 from Thursday’s close of Rs 209.30.

Despite today’s gain, the stock remains under pressure over a longer stretch, having fallen more than 41% since the start of the year.

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