Shares of RVNL continued to make gains for the second straight session on Wednesday going up close to 2%.
What Happened: The company on Monday evening announced that it had emerged as the lowest bidder
for a contract by Southern Railway. The order is for the major upgradation/redevelopment of Varkala Sivagiri Railway Station in Kerala.
The total project cost is ₹123.36 crore. The project is awarded to the joint venture between KRDCL and RVNL. KRDCL is the lead partner with a 51% share in the JV.
Last week, the railway company announced it had emerged as the lowest bidder for a crucial project under the Madhya Pradesh Metro Rail Corporation in collaboration with URC Construction Pvt Ltd. The project, valued at ₹543 crore, involves the "part design and construction of elevated viaduct, five elevated metro rail stations, and ramp" for the Indore Metro Rail Project.
Price Action: RVNL’s share price was up 1.52% to trade at ₹186.65 as the markets opened on Wednesday.
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