Rail Vikas Nigam Shares Jump After Rs 1,058 Crore Order Win

The stock rose as the company secured two projects under Surat Metro Rail Phase-I and Ahmedabad Metro Rail Project Phase-II.

Rishabh Mishra @Rishabh Mishra

10:49 AM IST, 18 Jan 202310:49 AM IST, 18 Jan 202310:49 AM IST, 18 Jan 202310:49 AM IST, 18 Jan 2023

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A project carried out by Rail Vikas Nigam Ltd. (Source: Company website)

Shares of Rail Vikas Nigam Ltd. gained the most since Jan. 13 after winning two projects worth a total of Rs 1,058 crore.

The company emerged as the lowest bidder for two projects under Surat Metro Rail Phase-I and Ahmedabad Metro Rail Project Phase-II, worth Rs 673.80 crore and Rs 384.30 crore, respectively.

Shares of the company gained 4.43% to Rs 77.75 apiece as of 10:44 a.m., while the benchmark Nifty 50 gained 0.48%. Total traded volume stood at 1.5 times its 30-day average.

The two analysts tracking the company maintain a 'buy' rating on the stock, according to Bloomberg data.