RVNL chugs along

Rail Vikas Nigam Ltd (RVNL) is currently among the top five gainers on the BSE; from its close of Rs.249.80, the stock opened today higher at Rs.253.20 and soon rose to an intraday high at Rs.261.20. Its 52-week high is at Rs.345.60.

The stock is in the news today after the company announced that it has signed an MoU with  Airports Authority of India (AAI) for construction of subway/underpass to connect operational area to the AAI residential colony in Kolkata.

The estimated cost of the project is Rs. 229.43 crore (including GST).

And prior to this, RVNL had announced that it has emerged as the lowest bidder (L1) for work on Rajkharsawan -Nayagarh- Bolani section of Chakradharpur division of South Eastern Railway to meet 3000 MT loading target. The cost of this work is Rs.167 crore and is to be completed in 18 months.