RVNL Stock Gains On Rs 132 Cr Order From Central Railway
The order worth Rs 132 crore is expected to be completed within 24 months
Stock of Railway Vikas Nigam (RVNL) rallied in the Wednesday trading after the PSU firm emerged as the lowest bidder (L1) from Central Railway.
RVNL stocks traded at Rs 416 with 1.27 per cent gain in the afternoon session on the National Stock Exchange (NSE).
“It is hereby informed that rvnl emerges as the Lowest Bidder (L1) from Central Railway for “OHE modification work for upgradation of existing 1 x 25 kV electric traction system to 2 x 25 kV AT feeding system in Wardha-Ballarshah section in Nagpur division of Central Railway to meet 3000 MT loading target,” stated RVNL in an exchange filing.
The order worth Rs 132 crore is expected to be completed within 24 months.
Earlier this month, the PSU firm also won a contract worth Rs 191.53 crore from the South Eastern Railway to handle the design, supply, installation, testing, and commissioning of a 132 KV traction substation and related posts on the Raj Khaswan, Nayagarh-Bolani section to support a 3000MT loading target. The project must be completed in 18 months.
In terms of stock performance, the RVNL stock has delivered nearly 130 per cent returns in 2024 so far.
