Shares of Rail Vikas Nigam Ltd (RVNL) gained 1% on Thursday, 4 December, after the company announced securing a Rs 145 crore contract. 

In its regulatory filing, the company said that it has received a Letter of Acceptance (LOA) from Southern Railway for a Rs 145.35 crore traction power project.  

The contract includes the design, supply, building, testing, and commissioning of Scott-connected traction substations, power quality equipment, switching posts, a 2×25 kV feeding system, and SCADA and automatic fault locator systems for the Salem Division’s Jolarpettai-Salem segment. 

The project is tied to the Indian Railways Mission 3000 MT freight-loading aim. RVNL stated that the work will take 540 days and is part of their usual business operations.

The order was given by a domestic business, and the company certified that Southern Railway has no promoter-group interest and that the transaction is not related-party.  

Rail Vikas Nigam undertakes a wide range of railway infrastructure projects, including laying new lines, doubling existing tracks, converting gauges, electrifying routes, and executing metro projects. It also builds workshops, major bridges, cable-stayed bridges, institutional buildings, and other large-scale railway facilities.

At 2:23 pm, the shares of RVNL were trading 0.048% higher at Rs 311.80 on NSE.

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