Rail Vikas Nigam Limited has informed the Exchange regarding the Lowest Bidder (L1) from IRCON International Limited- Normal course of business of the Company.'.
RVNL · price
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Rail Vikas Nigam Limited (RVNL) has emerged as the Lowest Bidder (L1) for a contract awarded by IRCON International Limited, a Government of India railway PSU. The work involves supply of signalling, telecommunications, and EIMWB materials, plus installation, testing, and commissioning of electronic interlocking systems at 10 new stations and 6 intermediate block sections in the Gevra Road-Pendra Road section, along with a new section control system. The contract is valued at Rs. 178.65 crore (inclusive of 18% GST) and is to be executed within 11 months. The order is domestic, with no related party interest, and is in the normal course of business.
This is a modest new order (~Rs 179 crore) for RVNL, well below 5% of its annual revenue, so it is unlikely to materially move the stock. However, it reinforces RVNL's order pipeline from government railway PSUs and adds visibility in the signalling and telecommunications segment.