Shares of Rail Vikas Nigam Ltd (RVNL) were trading in the red and almost 1% lower on 17 December despite the company securing a Rs 165 crore order from North Eastern Railway. 

In its regulatory filing, the company said that it has received a Rs 165.04 crore contract from North Eastern Railway to build the substructure of Important Bridge No. 50 over the Gandak River. 

The project involves constructing a 14-span bridge with 61-metre spans using a double D-type well foundation to support a double railway line. RVNL will execute the work over 24 months as part of the Gorakhpur Cantt–Valmikinagar doubling project, under standard contract terms.

The company confirmed that North Eastern Railway issued the Letter of Award for this assignment, which also adheres to RDSO standards for 25-tonne axle loading between the Paniyahwa and Valmikinagar stations.

Earlier, on 21 November, RVNL emerged as the lowest bidder for a Northern Railway project that includes the design, supply, installation, testing, and commissioning of overhead equipment modifications and feeder wire works for a 2×25 kV traction system.

RVNL operates as the construction and project execution arm of the Ministry of Railways. Established in 2003 to fast-track railway and transport infrastructure development, the company holds Navratna status and plays a key role in implementing large-scale rail projects across India.

At 1:27 pm, the shares of Rail Vikas Nigam were trading 0.52% lower at Rs 307.80 on NSE.

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