RVNL jumps after its JV emerges lowest L1 bidder for Varkala Sivagiri railway station project

RVNL Share Price: RVNL started the trading session on Wednesday (December 20, 2023) in positive territory after one of its joint venture firm emerged as the lowest L1 bidder for the redevelopment of Varkala Sivagiri Railway Station, Kerala.

The stock of Rail Vikas Nigam Limited was trading up by 0.92 per cent, or Rs 1.70, at Rs 185.50 at 10:30 am on Wednesday. 

KRDCL-RVNL JV has won the bid for the redevelopment of Varkala Sivagiri Railway Station, Kerala, for a total of Rs 123 crore.

“M/s KRDCL-RVNL JV emerges as the Lowest Bidder (L1) for “Varkala Sivagiri Railway Station – Major upgradation/redevelopment of Varkala Sivagiri Railway Station in Kerala,” RVNL said in a statement to bourses on Tuesday.

The RVNL JV targets the project to complete in 30 months.