Rail Vikas Nigam shares: Rs 440 crore order fails to lift RVNL stock

Shares of Rail Vikas Nigam Ltd (RVNL) on Friday briefly entered the positive terrain before slipping in to the red, even as the PSU emerged as the Lowest Bidder (L1) for an order from South Central Railway.

In a filing to stock exchanges, Rail Vikas Nigam said it emerged as the Lowest Bidder (L1) from South Central Railway for EPC tender for proposed doubling of track between Ankai station and Karanjgaon stations, including electrification and signalling works in connection with Aurangabad-Ankai doubling project in Nanded division of South Central Railway.

At 2 pm, the stock was trading 0.89 per cent at Rs 257.35 on BSE. RVNL said the project cost is Rs 440 crore and the order will be executed in 30 months.

The domestic order, RVNL said, is for: "Engineering, Procurement and Construction (EPC) tender for proposed "Doubling of Track between Ankai station (Excluding) at KM 16.00 (Ch: 16000) & Karanjgaon stations (Excluding) at Km 69.0 I (Ch:69010) (i.e. 53.0 l Km) including Electrification and Signalling works in connection with Aurangabad-Ankai Doubling Project in Nanded Division of South Central Railway."