Rail Vikas Nigam's shares has risen 13% in two days as a result of Rs 1,173-crore railway contracts

The share price of Rail Vikas Nigam (RVNL) increased by more than 4% intraday on January 13 after the company was awarded a project by Southern Railway.

The stock has increased by 13% in the last two days and was trading at Rs 78.90, up Rs 3.10, or 4.09 percent, on the BSE at 11:44 a.m. It reached an intraday high of Rs 79.35 and a low of Rs 77.25.

RVNL announced that the company received a letter of acceptance from Southern Railway for the implementation of automatic block signalling in the Southern Railway's Taduku-Renigunta segment. The project will cost Rs 38.97 crore. The project would take 15 months to complete.

On January 11, the business stated that it has been awarded a Rs 1,134 crore Chennai Metro Rail project, which must be finished in 1,065 days. An elevated viaduct, nine elevated metro stations, and a stabling viaduct will be built by the train infrastructure business.

RVNL, its subsidiaries, and joint ventures are in the business of implementing various types of rail infrastructure projects assigned by the Ministry of Railways (MoR), such as doubling (including third and fourth lines), gauge conversion, new lines, railway electrification, major bridges, workshops, production units, and freight revenue sharing with railways, in accordance with the concession agreement entered into with the MoR.

Other clients include several national and state government ministries, departments, and public sector undertakings, as well as the Indian Railways. RVNL has also begun competitive bidding in the Metro, highways, and other infrastructure sectors.