Rail Vikas up 10% as JV emerges lowest bidder for 200 Vande Bharat trains

A joint venture of Russian firm Transmashholding (TMH) and RVNL emerged as the lowest bidder for the manufacture and maintenance of 200 lightweight Vande Bharat trains.

Shares of railways-owned Rail Vikas Nigam (RVNL) surged 10 per cent to Rs 64.30 on the BSE in Thursday’s intra-day trade after a joint venture (JV) of the company and Russian firm Transmashholding (TMH) emerged as the lowest bidder for the manufacture and maintenance of 200 lightweight Vande Bharat trains.

The company emerged as the Lowest Bidder (L1) for 'Manufacturing cum Maintenance of Vande Bharat Trainsets including Up-gradation of the Government Manufacturing Units & Trainset Depots' in JV with Joint Stock Company Metrowagonmash (70 per cent), Joint Stock Company Locomotive Electronic System (5 per cent) and RVNL (25 per