RVNL Stock Rallied 3% On Rs 190 Cr Order
PSU will handle the design, supply, installation, testing, and commissioning of a 132 KV traction substation and related posts to support a 3000MT loading target
Railway Vikas Nigam (RVNL) stock rallied more than 3 per cent in the Monday trading session after the PSU firm won a contract worth Rs 191.53 crore from the South Eastern Railway.
RVNL stock traded at Rs 418 with 2.04 per cent gain in the morning session on the National Stock Exchange (NSE).
As stated in its 21 June exchange filing, the PSU will 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 should be completed in 18 months.
Last week RVNL also emerged as the lowest bidder from East Coast Railway for the provision of automatic block signalling system with dual MSDAC and alteration in existing El/Pl/RRI stations in the section of Jakhapura-Nergundi, Khurda Road-Bhusundpur and Bhusundpur-Golanthra over Khurda Road Division of East Coast Railway.
The order was worth around Rs 168 crore and expected to complete within 24 months.
The railway PSU stock has delivered 130 per cent returns in 2024 so far.
