RVNL surges 6% on ₹968 crore railway contract win; up 14% in three days

Rail Vikas Nigam announced that it has emerged as the lowest bidder for a key Engineering, Procurement, and Construction (EPC) contract awarded by East Coast Railway

Rail Vikas Nigam share price: Shares of Rail Vikas Nigam (RVNL), a state-owned rail infrastructure company, were in high demand on the bourses on Friday, April 17, after the company announced that it emerged as the lowest bidder for a domestic railway order worth nearly ₹968 crore.

 

Following the announcement, the company’s share price soared 6.11 per cent to log an intra-day high of ₹311.85 per share on the NSE. The stock, however, remains 30 per cent below its 52-week high of ₹447.8 per share on the NSE, scaled on May 20, 2025.

 

That said, although the stock pared some gains, it continued to trade higher during the session. At 12:29 PM, RVNL shares were quoted at ₹303.68, up 3.2 per cent from the previous close of ₹293.89 per share on the NSE. At the same time, the benchmark NSE Nifty50 was trading at 24,284.40, up 87.65 points or 0.36 per cent. The company's market capitalisation stood at ₹63,138 crore. The stock has surged over 14 per cent in the last three sessions.     READ STOCK MARKET UPDATES LIVE

 

Rail Vikas Nigam bags order worth ₹968 crore 

On Thursday, RVNL announced that it has emerged as the lowest bidder for a key Engineering, Procurement, and Construction (EPC) contract awarded by East Coast Railway. 

The project comprises the construction of the 3rd and 4th railway lines between Nergundi-Barang (22 km) and Khurda Road-Vizianagaram (363 km) on the Bhadrak-Vizianagaram section, covering a total length of 385 km.  

According to the company's regulatory filing, RVNL will undertake the construction of several major bridges, including Bridge No. 539 (16x30.5 m open web steel girder over the Birupa River), Bridge No. 544 (32x65.84 m over the Mahanadi River), Bridge No. 553 (18x45.70 m over the Kathjori River), and Bridge No. 557 (20x45.70 m over the Kuakhai River) as a part of the project.   READ | Gold stocks shine, up 37% in April before Akshaya Tritiya; Chart check here 

The project is worth ₹968 crore and is expected to be completed within three years.  

Hitesh Tailor, technical research analyst at Choice Broking, said RVNL is currently trading around ₹305 and undergoing a phase of consolidation on the weekly timeframe following a sharp retracement from its all-time high of ₹647. The stock has corrected nearly 50 per cent, forming a lower high–lower low structure, indicative of prior distribution. However, it is now stabilising near the 200-week EMA, with visible accumulation emerging in the ₹250–₹280 zone.

 

"Momentum remains subdued, as reflected by RSI trending below the midpoint on the weekly chart, suggesting lack of directional strength. On the upside, a supply zone is placed around ₹360–₹400, and a decisive breakout above ₹400 is essential to signal a structural trend reversal. In the short term, the stock has rebounded from lower levels, but it is currently approaching a strong resistance zone near its previous breakdown area, where supply pressure may emerge. Long-term participants are advised to await confirmation and maintain a cautious, wait-and-watch stance," he said.

 

Earlier, the company secured a ₹242 crore order from South Central Railway for the design, delivery, installation, testing, and commissioning of an OHE (Overhead Equipment) upgrade. The project involves upgrading the existing 1×25 kV system to a 2×25 kV AT feeding system, as well as feeder and earthing work in the Ongole (OGL) to Gudur (GDR) section of the Vijayawada Division. The project encompasses 154 RKM / 462 TKM and is expected to be finished in 24 months.