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Rail Vikas Nigam Ltd. (RVNL) has emerged as the successful bidder for an international project in Maldives worth Rs 1,545 crore, the company said.

The project involves the development of UTF (Uthuru Thila Falhu-Island) Harbour. This is a strategic project of the government of India.

The contract has been awarded by the Ministry of External Affairs and the project will be completed within two years.

RVNL hit a 52-week high on November 4 after the company announced bagging a new contract worth Rs 137.56 crore from East Central Railway. The order involved OHE modification work to increase the speed potential to 160 KMPH in the Dhanbad division along the 202 km long route.

In October the company had also bagged a contract for the construction of a four-lane highway in Andhra Pradesh from the National Highways Authority of India (NHAI).

Veteran investor Ramesh Damani told CNBC-TV18 last month that he was bullish on tech and railway-focused stocks in Samvat 2079.

Damani believed that stocks like RVNL are as cheap as defence stocks were a couple of years ago. He expected these companies to benefit from the government's focus on increasing capex for transportation and infrastructure in the country.

Shares of RVNL ended 3.9 percent higher at Rs 51.