Rail Vikas Nigam Limited (RVNL) has been declared the lowest bidder for a major contract from East Central Railway.

What Happened: The contract involves the design, supply, erection, testing, and commissioning of traction sub-stations along with associated switching posts for the upgradation of the electric traction system in the Gomoh-Patratu section of Dhanbad Division of East Central Railway.

The domestic project is slated for completion within 540 days. The cost of the project will be ₹186.76 crore including taxes.

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RVNL had a busy month and has secured projects and approval for working projects. RVNL secured permission for a night traffic block at Chinar Park, Kolkata. This was related to the construction of a new metro station along the Airport-New Garia Metro corridor.

The company also emerged as the lowest bidder for a metro construction project of the Maharashtra Metro Rail Corporation Limited. The contract includes the construction of seven elevated metro stations in Reach 3A and three in Reach 4A of the Nagpur Metro Rail Phase-2 project.

Price Action: Shares of RVNL rose 3.16% to ₹433 on Monday afternoon. Shares of the company were back in the green on Monday after six straight sessions of ending in the red.

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