RVNL shares rose 6.94 per cent to hit a high of Rs 93.90. With this, the scrip is up 26.19 per cent in four sessions. The PSU has also incorporated a subsidiary company named Kinet Railway Solutions. 
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RVNL shares rose 6.94 per cent to hit a high of Rs 93.90. With this, the scrip is up 26.19 per cent in four sessions. The PSU has also incorporated a subsidiary company named Kinet Railway Solutions. Shares of Rail Vikas Nigam (RVNL) jumped 7 per cent in Tuesday's trade, taking their 4-day winning run to 26 per cent. RVNL, which company is engaged in railway projects including setting up of new lines, doubling, gauge conversion, railway electrification, metro projects, major bridges, workshops, construction of cable stayed bridges and institution buildings, has been in news after Union Minister Raosaheb Danve said efforts are on to start the Vande Bharat train production by August.
To recall, a consortium of Russia's CJSC Transmashholding and Rail Vikas Nigam (TMH-RVNL) had in March emerged as the lowest bidder (L1) for the Rs 58,000-crore contract to manufacture and maintain 200 trainsets at Rs 120 crore per unit. RVNL in a filing to stock exchanges on March 31 said it received letter of award for the same from Ministry of Railways for manufacturing cum maintenance of Vande Bharat trainsets including upgradation of the government manufacturing units & trainset depots.
On April 17, Russia news agency TASS quoted TMH as suggesting that it won the global bid to produce, supply and maintain 120 16-car long-distance Vande Bharat electric trains for the state enterprise Indian Railways and that the terms of the tender stipulate that the contract be signed by June 1, 2023. The contract, TMH said, will pay $1.8 billion for supplying the trains and $2.5 billion for their maintenance over a period of 35 years. Taking into account indexation, the total value of the contract could be as much as $6.5 billion, it had said.
The contract process with a consortium of Russia and RVNL is underway, Danve told PTI this Sunday, adding that the actual coach production is expected to begin by August. Danve said least 120 upgraded Vande Bharat trains will be manufactured at the Marathwada Railway Coach Factory in Latur.
On Tuesday, the stock rose 6.94 per cent to hit a high of Rs 93.90. With this, the scrip is up 26.19 per cent in four sessions.
The RVNL stock has also been in news as RVNL recently emerged as the lowest bidder (L1) for – Mumbai Metro line 2B of MMRDA. The cost of that project is Rs 378 crore. Also this month, RVNL received from North Western Railway for “Provision of automatic block signalling on Madar-Sakhun Section (51.13 Kms) of Jaipur division over North Western Railway. The order size was Rs 63 crore.
The PSU has also incorporated a subsidiary company named Kinet Railway Solutions.
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