Summary:
RVNL shares gained 2% after the company received a ₹903.01 crore order from SJVN Thermal for railway connectivity works at the 1,320 MW Buxar Thermal Power Project. The order strengthens RVNL’s project pipeline, with execution scheduled over 36 months.
Shares of Rail Vikas Nigam Ltd (RVNL) gained up to 2% in early trade on September 7 after the railway PSU received a Letter of Award (LoA) worth ₹903.01 crore, including GST, from SJVN Thermal Private Ltd (STPL), a wholly owned subsidiary of SJVN Ltd. The order is related to the 1,320 MW Buxar Thermal Power Project in Bihar and is expected to strengthen RVNL’s order book.
RVNL Receives ₹903 Crore Order From SJVN Thermal
RVNL said it received the LoA from SJVN Thermal Private Ltd for the construction of a permanent siding along with an aerial connection via track from the plant boundary to Chausa and Pawani Kamarpur at Buxar, Bihar. The project is part of STPL’s 1,320 MW Buxar Thermal Power Project.
According to the company’s exchange filing, the total order value stands at ₹903.01 crore, including GST. The project is scheduled to be completed within 36 months and falls within RVNL’s normal course of business.
The scope of work includes construction of a permanent railway siding and an aerial track connection linking the plant boundary with Chausa and Pawani Kamarpur. The project is aimed at providing railway connectivity to the Buxar Thermal Power Project.
Why Did RVNL Shares Surge After the Order Win?
The stock gained as much as 2.12% in early trade as investors reacted positively to the sizable order win. The ₹903.01 crore contract adds to RVNL’s project pipeline and comes shortly after the company emerged as the lowest bidder for another major railway infrastructure project.
The fresh order provides additional revenue visibility, although the project has a relatively long execution period of 36 months. The positive market reaction also reflects continued order inflows for RVNL amid ongoing investments in railway infrastructure.
Another ₹404.88 Crore Railway Project
Last week, RVNL emerged as the lowest bidder (L1) for a project from East Coast Railway worth ₹404.88 crore, including GST. The project has an execution period of 30 months.
The contract involves roadbed construction, minor and major bridges, road under bridges and limited-height subways, building works, ballast supply and permanent-way linking. It also includes utility shifting, signalling and telecommunication works, electrification, power-supply arrangements, and modification of high-tension and low-tension lines.
The project is connected with the development of a third railway line between Nergundi-Barang and Khurda Road-Vizianagaram on the 385-km Bhadrak-Vizianagaram section.
RVNL Share Price Movement and 52-Week Range
RVNL stock opened at ₹216.20 on the BSE against the previous close of ₹212 and touched an intraday high of ₹216.50, marking a gain of 2.12%. At 9:28 AM, the stock was trading at ₹213.50, up ₹1.50 or 0.71%.
In the previous trading session, RVNL closed at ₹212, gaining ₹2.50 or 1.19%. The stock has a 52-week high of ₹400.90, recorded on December 29, 2025, and a 52-week low of ₹203.95, recorded on September 2, 2026. At the reported price, the stock remained 47.12% below its 52-week high and 3.95% above its 52-week low.
RVNL’s market capitalisation stood at ₹44,202.43 crore.
