Railway Stock Jumps 3% After Bagging ₹386 Cr Orders

RVNL‘s share price shot up sharply on Tuesday morning going up over 3% to hit an intraday high of ₹252.45.

What Happened: The railway major on Monday evening announced bagging two orders. The first order was from the Central Railways. The company emerged as the lowest bidder for signalling and telecommunication work for the provision of automatic block signalling on the Khapri-Sewagram section of the Nagpur Division. The order is to be completed within 12 months and is worth around ₹47 crore.

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The other order is from the Maharashtra Metro Rail Corporation. The order is for the design and construction of an elevated viaduct of length 4.519 km on the North-South Corridor of the Pune Metro Rail Project. The order is to be completed within 130 weeks and is worth around ₹339 crore.

The orders come on the heels of the company bagging several other letters of awards last week. The railway manufacturer has been on a roll at the bourses. In the past year, the stock has gone up over 280%.

Price Action: RVNL's share price was up 5.59% to trade at ₹251.25 as the markets opened on Tuesday.

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