Shares of Navratna company Rail Vikas Nigam Limited (RVNL) jumped nearly 5% on Wednesday after the company won back-to-back projects. The stock hit an intraday high of ₹472.50.

What Happened: An RVNL-led consortium, including HFCL Limited and Aerial Telecom Solutions Pvt Ltd, was announced as the lowest bidder for a project from Bharat Sanchar Nigam Limited (BSNL).

The consortium will be responsible for the development, upgrading and operation and maintenance of Bharat Net’s middle-mile network under a design, build, operate and maintain (DBOM) model, the company’s press release said. The total value of the contract stands at around ₹5,008.20 crore.

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Additionally, a joint venture (JV) between RVNL and Rithwik Projects Pvt. Ltd. (RPPL) was the lowest bidder for a contract for constructing stations from Karnataka’s Rail Infrastructure Development Company (K-RIDE).

The project, which is a component of the Bengaluru Suburban Rail Project (BSRP), includes the construction of nine stations — one elevated and eight at-grade — along with various civil and structural works, the company said on Tuesday.

Earlier in the day, another joint venture between RVNL and SCPL was declared the lowest bidder for a project from Eastern Railway. The project includes earthwork, the construction of minor and major bridges, retaining walls, level crossings, side drains and other related works.

It is part of the development of a multi-track broad gauge railway line from Kalipahari to Pradhankhuta. The estimated total cost of the project is ₹837.67 crore.

Price Action: Shares of RVNL were trading 3.57% higher at ₹467 on Wednesday morning.

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