RVNL‘s share price extended gains for the third straight session on Friday. The stock went up close to 3% to hit an intraday high of ₹379.30.
What Happened: The surge today comes as the railway company announced on Thursday evening that it had received a letter of acceptance for a major order from the National Thermal Power Corporation (NTPC). This order pertains to a Project Execution Agency (PEA) contract for executing balance civil and hydro-mechanical works of the Barrage Complex, which includes part of the Rammam Hydro Electric Project Stage-III. The contract is valued at approximately ₹495 crore and is scheduled for completion within 66 months.
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Earlier in the week, the company revealed securing another substantial order from Dakshin Haryana Bijli Vitran Nigam Limited on Wednesday. This contract, worth around ₹124 crore, is scheduled to be completed in 30 months.
The company also announced on Wednesday that it received a letter of acceptance for yet another major order from Eastern Railway. This order, valued at approximately ₹390.97 crore, is expected to be completed within 24 months.
Price Action: RVNL’s share price was up 2.31% to trade at ₹377.15 as the markets opened on Friday.
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