RVNL Stock Price: Rail Vikas Nigam Soars On D-Street; JV lowest bidder to manufacture Vande Bharat trains

RVNL stock price: Rail Vikas Nigam Ltd (RVNL) shares soared on Thursday after Eisenbahninfra PSU emerged as the lowest bidder to manufacture 200 Vande Bharat trains in a joint venture with Russia’s Metrowagonmash. The tender, estimated at Rs 58,000 crore, includes servicing the trains for 35 years.

RVNL shares rose as much as 15 percent to Rs.67.3 apiece on BSE with huge volumes.

“The total quantity is 200 trainsets and the cost per train is Rs 120 crore,” RVNL said in a permit application.

As of midday, a total of 44.9 lakh RVNL shares have changed hands in BSE so far on the day, compared to a daily average of 10.4 lakh recorded over the past two weeks, preliminary stock market data show.

RVNL JV emerges as the cheaper bidder for Vande Bharat trains: a look at the key details

The delicate greatness of Vande Bharat:

• 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 carriages including the sleeper class.

Other bidders in dispute:

• Second among the lowest bidders was a consortium of Titagarh Wagons and BHEL (Rs 139.8 crore per train).
• The third lowest bid came from BEML and Siemens (Rs 145 crore per move)

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