Rail Vikas Nigam’s stock rose more than 4% in early trading on April 3 after the company received multiple orders worth Rs 721 crore. Rail Vikas Nigam has received a Letter of Award (LoA) from the National Highway Authority of India (NHAI) for the construction of a six-lane elevated Kona motorway in West Bengal on an EPC basis. The order is worth Rs 720.67 crore and is expected to be completed in 910 days. The company’s JV also received a letter of authorization from the Ministry of Railways to manufacture and maintain Vande Bharat Trainsets, as well as upgrade government manufacturing units and trainset depots.
The total number of trainsets is 120, with a cost of Rs 120 crore per set. In addition, the consortium (RVNL and Tracks & Towers Infratech) received a letter of authorization from NHAI to construct a 6-lane Greenfield Varanasi-Ranchi-Kolkata highway from Sonepurbigha village junction with NH-22 near Chatra under Bharatmala Pariyojana in the state of Jharkhand on Hybrid Annuity Mode. The project costs Rs 1,271.98 crore, and RVNL owns 49 percent of it.