RVNL share price: Rail Vikas Nigam skyrockets on D-Street; JV lowest bidder for making Vande Bharat trains

RVNL share price: Rail Vikas Nigam Ltd (RVNL) shares skyrocketed on Thursday, after the railway infra PSU emerged the lowest bidder for manufacturing 200 Vande Bharat trains in a joint venture with Russia's Metrowagonmash. The tender, estimated at Rs 58,000 crore, includes maintenance of the trains for 35 years. 

RVNL shares zoomed as much as 15 per cent to Rs 67.3 apiece on BSE with huge volumes.  

"The total quantity is 200 trainsets and cost per set is Rs 120 crore," RVNL said in a regulatory filing.

By noon, a total of 44.9 lakh RVNL shares changed hands on BSE so far in the day, as against a daily average of 10.4 lakh recorded in the past two weeks, provisional exchange data shows. 

RVNL JV emerges lower bidder for Vande Bharat trains: A look at key details

The Vande Bharat tender size:

• Manufacturing: Rs 40,000 crore
• Maintenance: Rs 18,000 crore

Vande Bharat train features:

The Vande Bharat trains developed under the agreement will have 16 coaches including the sleeper class.   

Other bidders in fray: 

• At the second spot among lowest bidders was a consortium of Titagarh Wagons and BHEL (Rs 139.8 crore per train)
• Third lowest bid was by BEML and Siemens (Rs 145 crore per train)

Catch latest stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.