India's Rail Vikas rises after emerging lowest bidder for $43 million project
04/09/2026 07:27
BUZZ-India's Rail Vikas rises after emerging lowest bidder for $43 million project ** Railways infrastructure developer Rail Vikas Nigam's shares RAIV.NS rise as much as 2.33% to 214.18 rupees apiece
** RAIV emerges as the lowest bidder for an East Coast Railway project worth 4.06 billion rupees (about $43 million)
** Project pertains to execution of roadbed, bridges and electrification works over 30 months, says RAIV in an exchange filing
** RAIV shares are down 40.3% in 2026 so far, underperforming the 4.7% rise in the Nifty mid-cap 100 index .NIFMDCP100, according to exchange data
($1 = 94.4800 Indian rupees)
(Reporting by Bharath Rajeswaran in Bengaluru)
((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))
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India's Rail Vikas rises after emerging lowest bidder for $43 million project