The contract is for the “Setting up of Wagon POH Workshop of 200 Nos. Capacity at Kantabanji”, with a project cost of Rs 201.23 crore (excluding GST).
“It is hereby informed that Rail Vikas Nigam Limited emerges as the Lowest Bidder (L1) from East Coast Railway for setting up of Wagon POH Workshop of 200 Nos. Capacity at Kantabanji,” said the company in a regulatory filing to the stock exchanges.
According to the regulatory filing, the order has been awarded through a works tender by a domestic entity, the East Coast Railway, and is slated for completion within 18 months.
The project involves establishing a Periodic Overhauling (POH) workshop for wagons, with a capacity of 200 units.
RVNL has been named the sole bidder for this contract, reinforcing its strong position in executing critical infrastructure projects in the railway sector. The nature of the order is entirely domestic, and the contract adds to RVNL’s robust and growing order book.
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RVNL share price history
Over the past year, the stock of RVNL has seen a decline of 13.59%, while the year-to-date (YTD) performance reflects a dip of 14.07%. The last six months have also been challenging, with the stock down by 7%.
However, on a relatively shorter time frame, the stock has staged a partial recovery. It has gained 7.56% in the last three months and posted a healthy rise of 13.46% over the past month.
On Monday, RVNL shares closed sharply lower by 5.25% at Rs 367.60 on the BSE.
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