RVNL’s share price continued to make gains for the seventh straight session on Tuesday soaring over 4% in early trade.
What Happened: The surge today comes as the company on Monday evening announced emerging as the lowest bidder for a contract from the Vadodara Division of Western Railway.
The contract is for all civil engineering works, construction of station buildings, platforms, subway cover over platforms, staff and others in connection with gauge conversion work between Petlad – Bhadran.
The value of the contract is ₹174.27 crore. The project’s execution timeline is two years. The project is through a joint venture between RVNL and MPCC. RVNL’s share in the JV is 74%.
The new order comes on the heels of the over ₹600 crore order wins the company announced late last week from Madhya Gujarat Vij Company Limited.
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Price Action: RVNL’s share price was up 4.76% to trade at ₹161.75 as the markets opened on Tuesday.
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