RVNL‘s share price surged up over 5% to hit a new all-time high of ₹231.70.
What Happened: The railway company has secured a significant project in Madhya Pradesh, winning the contract as the lowest bidder for a power transmission project valued at ₹251 crore. The order, awarded by MP Madhya Kshetra Vidyut Vitran Co., encompasses the supply, installation, testing, and commissioning of 11 kV line-associated works.
The scope of work for this project involves activities such as line bifurcation, interconnection, and conductor augmentation. The time frame for the execution of the project is two years.
Earlier this month, RVNL announced that it had received a Letter of Acceptance (LOA) from Southern Railway for a separate order valued at ₹123 crore. This particular order pertains to the major upgrade and redevelopment of the Varkala Sivagiri Railway Station in Kerala.
The consistent inflow of orders and optimism ahead of the budget has fueled the recent rally in stock. In the last five sessions, the stock has surged up over 20%.
Price Action: RVNL’s share price was up 3.20% to trade at ₹227.20 as the markets opened on Tuesday.
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