RVNL Shares Surge 9% on MoU with Israeli Firm

22 Jul 2024 CW Team

Shares of Rail Vikas Nigam Ltd (RVNL) soared by 9% to Rs 637.80 on the BSE following the announcement of a significant Memorandum of Understanding (MoU) with United Construction Limited, Israel. The RVNL stock rebounded by 12% from its intra-day low of Rs 569.80.

In an exchange filing, RVNL disclosed that the MoU aims to foster cooperation for securing projects across various sectors including Railways, Mass Rapid Transit System (MRTS), tunnels, roads, bridges, building works, airports, ports, irrigation, power transmission and distribution, solar, and wind sectors in Israel.

In a separate filing, RVNL announced that the Hon'ble tribunal awarded Rs 5.84 billion in favor of its joint venture company, Krishnapatnam Railway Company Limited (KRCL), in an arbitration with the Ministry of Railways (MoR).

RVNL, along with its subsidiaries and joint ventures, is deeply involved in implementing diverse rail infrastructure projects assigned by MoR, including gauge conversion, new lines, railway electrification, major bridges, workshops, and production units. The company has successfully constructed major workshops for Indian Railways and is expanding its reach to secure rail infrastructure projects overseas.

Additionally, RVNL recently signed an MoU with IMS Consultancy Private Limited for providing technical and advisory services for various infrastructure projects in Nepal.

So far in 2024, RVNL's market price has surged nearly 250%, and 430% over the past year, outperforming the BSE Sensex's gains of 12% and 21%, respectively.

Infrastructure Transport

06 May 2026

Pune To Build Nine Km Link Road Between Highways

The Pune Municipal Corporation (PMC) has decided to appoint an expert to plan the development of a nine km long, 60 metre wide road from Khadi Machine chowk to Wadki chowk as an extension to the Katraj-Kondhwa road to link the Mumbai-Satara and Pune-Solapur national highways. The scheme is intended to divert heavy vehicle traffic away from the city and improve access between the two arterial routes. The project has been prioritised by the PMC and forms part of a larger set of schemes in which 19 roads have been identified for development at a combined cost of Rs 9.82 billion (bn) to address c..

Barabanki Bahraich Six Lane Highway Approved in Uttar Pradesh

The Uttar Pradesh government has approved construction of a new six-lane highway linking Barabanki and Bahraich as part of National Highway 927, and the cabinet has cleared the project. The alignment will pass through Mustafabad and Kaiserganj and extend for about 101.5 km, creating a key corridor for local and long-distance movement. The National Highways Authority of India will oversee the work and has signalled the scheme is intended to strengthen regional connectivity and cross-border access to Nepal. The project carries an estimated total cost of Rs 69,690 million, equivalent to Rs 69.69..

Toll At Kharegaon Likely As Highway Upgrade Nears Completion

A section of the highway at Kharegaon has undergone an upgrade and is approaching completion, and authorities have indicated plans for a toll to be introduced once works finish. The project has focused on strengthening the carriageway, improving drainage and upgrading intersections to enhance safety and capacity. Officials have said the toll will be used to recover construction costs and fund ongoing maintenance. The upgrade included resurfacing of the pavement, widening of certain stretches and installation of modern signage and lighting to reduce accident risk. Contractors completed most ma..