Railway Stock Jumps Back In Green After Bagging ₹390 Cr Order

RVNL‘s share price was upbeat on Thursday after the company announced bagging another major order.

What Happened: The company bagged an order from the Eastern Railways. The order is for the construction of the Sitarampur bye pass line under the Asansol Division of Eastern Railway. The order is worth around ₹390.97 crore and is scheduled to be completed in two years.

The order announcement helped the stock halt its two-straight session losing streak. However, the railway stock has been on a strong bull run. In the last 10 sessions, the RVNL share price has ended in the red only thrice.

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Last month, the company 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. In the last two months, the company has received orders worth over ₹1,500 crore. The conmpany is scheduled to post its earnings for the quarter ended March on May 15.

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

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Posted In: EquitiesNewsContractsMarketsMoversTrading IdeasRail Vikas Nigam