RVNL wins order from Maharashtra Metro, signs MoU with TATWEER Middle East and Africa

Following the announcement, shares of RVNL surged more than 6% and hit a high of ₹579 per share.

Additionally, RVNL reported that it has signed a Memorandum of Understanding (MoU) with TATWEER Middle East and Africa. Under the MoU, RVNL will leverage its expertise to jointly develop design and execution capabilities for various rail-based networks in the Middle East and Africa (MENA) Region and European Countries. Further, RVNL will also supply, design, implement, and commission a Smart City, digital transformation, and professional engineering services.

RVNL also announced that it has emerged as the lowest bidder in a South Eastern Railway project. The project calls for the design, supply, erection, testing, and commissioning of a 132 kilovolt (KV) Traction Substation, Sectioning Posts, and two 25 KV Sub-sectioning posts. The order will be executed Kharagpur-Bhadrak section of the Kharagpur Division of the South Eastern Railway. The order is expected to be executed within 18 months and has a value of ₹228 crore.

Last week, the company announced that it has signed a MoU with the Delhi Metro Rail Corporation to participate in upcoming projects in India and abroad. Under the MoU, RVNL will be a Project Service Provider for metro, railways, high-speed rail, highways, mega-bridges, tunnels, institutional buildings, workshops or depots, S&T works, and railway electrification.

Shares of the company have risen by nearly 221% since the beginning of the year. The stock has gained over 377% in the last one year and is among the best performers in the railway space.