Railway Stock Upbeat After Bagging ₹438 Cr Order

RVNL’s share price got a further boost after the company announced bagging a massive order from the Indian Railways.

What Happened: The railway company on Wednesday afternoon announced bagging an order from the Southern Railways. The order is to redevelop Thiruvananthapuram Central Railway Station in Engineering, Procurement and Construction (EPC) mode. The contract is worth around ₹438.95 crore.

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The order is scheduled to be completed in 42 months. The order is won by the KRDCL- RVNL JV. RVNL’s share of the JV is 49%. The stock has been upbeat along with other railway stocks such as IRCON, IRFC and IRCTC. In the last five sessions, the stock has gone up around 9%.

The stock has been on a golden run at the bourses, backed by a slew of orders. Just last month, the company announced bagging orders over ₹1,000 crore.

Price Action: RVNL’s share price was up 1.77% to trade at ₹282.25 in the late hours of trading on Wednesday.

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