RVNL Bags ₹156 Cr Order From Southern Railways

RVNL bagged another major contract from the Indian Railways.

What Happened: The company announced that it has been declared the lowest bidder for an order from Southern Railways. The project is for the automatic signalling on Ernakulam JN(ERS) – Vallattol Nagar(VTK) Section on B-Route
of Thiruvananthapuram Division in Southern Railway. The order is won by a JV between RVNL and KRDCL.

The order is worth around ₹156 crore and is to be completed in 750 days. RVNL’s share of the JV stands at 49%. The order comes on the heels of the company bagging multiple orders. On Thursday, the company announced bagging an order from NTPC. The order is worth around ₹495 crore.

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On Wednesday, the company announced that it secured an order from Dakshin Haryana Bijli Vitran Nigam Limited. The order is valued at approximately ₹124 crore.

The RVNL share price continued to recover on Friday. The railway stock had slumped sharply on Tuesday as the election results delivered an unexpected mandate. The recovery got impetus as Narendra Modi‘s path to becoming prime minister became clear. This brought optimism to investors, who expect political stability and policy continuity.

Price Action: RVNL’s share price was up 1.60% to close at ₹374.55 on Friday.

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