Railway Stock Bags ₹123 Cr Order, Shares Jump
Take Stock Of The Week Ahead

Get all the latest Share Market trends and news to set you up for the week ahead.

Congratulations!
You have successfully subscribed.

Shares of RVNL continued to make gains for the second straight session on Wednesday going up close to 2%.

What Happened: The company on Monday evening announced that it had emerged as the lowest bidder
for a contract by Southern Railway. The order is for the major upgradation/redevelopment of Varkala Sivagiri Railway Station in Kerala.

The total project cost is ₹123.36 crore. The project is awarded to the joint venture between KRDCL and RVNL. KRDCL is the lead partner with a 51% share in the JV.

See Also: SEBI Launches Major Raids Across 100 Locations In Gujarat Targeting Stock Market Fraud

Last week, the railway company announced it had emerged as the lowest bidder for a crucial project under the Madhya Pradesh Metro Rail Corporation in collaboration with URC Construction Pvt Ltd. The project, valued at ₹543 crore, involves the "part design and construction of elevated viaduct, five elevated metro rail stations, and ramp" for the Indore Metro Rail Project.

Price Action: RVNL’s share price was up 1.52% to trade at ₹186.65 as the markets opened on Wednesday.

Read Next: Sovereign Gold Bonds Series III Now Open For Subscription: Here’s How To Buy SGBs Online

Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Comments
Loading...
EquitiesNewsContractsMarketsMoversTrading IdeasRail Vikas Nigam