Rail infra major RVNL announced bagging another major order for a railway project.
What Happened: The company on Tuesday informed the exchanges that it had been declared the lowest bidder for an order from North Central Railways.
The order is for the provision of EI-based automatic signalling with continuous track circuiting and other associated works, along with necessary indoor alterations in electronic interlocking, RRI and PI stations on the Dhaulpur-Gwalior section of the Jhansi division, North Central Railway.
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The order worth around ₹72.73 crore is expected to be completed in 455 days. The order comes on the heels of the railway major bagging another order from Nagpur Metro worth around ₹187 crore.
Shares of the railway major have experienced a massive surge due to a robust inflow of orders and strong quarterly results. Over the past month, the company has secured orders worth over ₹700 crore. In just the last 30 days, the stock has climbed more than 28%.
Price Action: RVNL’s share price fell 1.39% to trade at ₹371.50 in the late hours of trading on Tuesday.
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