RVNL chugs right ahead

about 7 months ago

Rail Vikas Nigam Ltd (RVNL) is currently the top gainer on the BSE; it opened 6% higher at Rs.61.90 and rose further to Rs.66.50, up more than 13.5%. Its 52-week high is at Rs.84.15.

The stock price surged on news that RVNL, along with Russia's CJSC Transmashholding (TMH) emerged as the lowest bidder for manufacture and maintenance of 200 Vande Bharat trains.

The bid was placed at Rs.120 crore per train and is for the next 35-years.

This JV is between Metrowagonmash (70%), Locomotive Electronic System (5%) and RVNL (25). Metrowagonmash is part of TMH.

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