Rail Vikas Nigam Limited‘s shares surged on Tuesday after the company emerged as the lowest bidder for a project in South Central railway.

What Happened: RVNL on Monday announced it became the lowest bidder for an Engineering, Procurement and Construction (EPC) contract from South Central Railway. The project involves doubling the track between Parbhani to Parli stations in Maharashtra, excluding the Gangakhed yard and includes associated electrification and signalling works.

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The project costs ₹625.08 crore inclusive of GST and is expected to be completed within 30 months. The distance of the railway lines the company will be working on is 58.06 km.

RVNL had secured multiple orders recently. The company won a ₹186.76 crore order from East Central Railway in October for traction sub-station works in the Gomoh-Patratu section of Dhanbad Division. Later, it received a letter of acceptance for a ₹283.69 crore project to construct the third and fourth lines between Jarapada & Talcher Road and a new line between Angul-Balram

Price Action: Shares of RVNL were up 1.58% to ₹453.25 on Tuesday morning.

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