RVNL‘s share price continued to make gains for the fourth straight session on Monday going up over 3% to hit an intraday high of ₹386.80.
What Happened: The company announced that it has been declared the lowest bidder for an order from Southern Railways. This project involves the implementation of automatic signalling on the Ernakulam JN (ERS) – Vallattol Nagar (VTK) Section on the B-Route of the Thiruvananthapuram Division in the Southern Railway.
The contract, awarded to a joint venture between RVNL and KRDCL is valued at approximately ₹156 crore and is expected to be completed within 750 days. RVNL holds a 49% share in this joint venture.
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This latest contract adds to a series of recent order wins for the company. On Thursday, it announced securing an order from NTPC worth around ₹495 crore for the execution of balance civil and hydro-mechanical works of the Barrage Complex, part of the Rammam Hydro Electric Project Stage-III. This contract is slated to be completed in 66 months.
Last week, the company revealed it had obtained another significant order from Dakshin Haryana Bijli Vitran Nigam Limited. This order is valued at approximately ₹124 crore.
Price Action: RVNL's share price was up 1.28% to trade at ₹379.35 as the markets opened on Monday.
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