Railway Stock Extends Gains To 4th Day After Bagging ₹239 Cr Order

RVNL's share price extended gains for the fourth straight session on Thursday after the company annouced bagging another order.

What Happened: The railway company on Wednesday evening announced bagging an order from the Southern Railways. The order is for the automatic block signalling system in Jolarpettai Junction to Erode Junction of Salem Division in Southern Railway. The contract is worth around ₹239.90 crore.

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The order is scheduled to be completed in 900 days. The announcement of the new order comes on the heels of the company winning another major order from Southern Railways. The order is to redevelop Thiruvananthapuram Central Railway Station and is worth around ₹438.95 crore. The order is won by the KRDCL- RVNL JV. RVNL's share of the JV is 49%.

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 2.08% to trade at ₹290.15 in the early hours of trading on Wednesday.

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Posted In: EquitiesMarketsMoversTrading IdeasRail Vikas Nigam