RVNL‘s share price was zooming on Tuesday afternoon as the company bagged its second major order in two days.

What Happened: The joint venture between RVNL and SCPL was declared the lowest bidder for a project from Eastern Railway.

The project involves earthwork, construction of minor and major bridges, retaining walls, level crossings, side drains and other ancillary works. It is part of building a multitracking railway broad gauge line from Kalipahari to Pradhankhuta.

The domestic project, awarded by the Eastern Railway, is expected to be completed within 36 months. The total cost of the project is estimated at ₹837.67 crore, including taxes. RVNL is the major partner with a 74% share in the JV.

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Earlier today, RVNL’s shares surged after the company emerged as the lowest bidder for a project in the South Central railway. The project involved doubling the track between Parbhani to Parli stations in Maharashtra, excluding the Gangakhed yard and included associated electrification and signalling works.

Last month, RVNL was declared the lowest bidder for a major contract from East Central Railway, involving the upgradation of the electric traction system in the Gomoh-Patratu section of the Dhanbad Division of East Central Railway.

Price Action: RVNL’s share price was up 1.50% to trade at ₹452.90 on Tuesday afternoon.

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