RVNL‘s share price was upbeat on Friday as several railway stocks were rallying possibly on the expectations of improved budget allocation in the upcoming budget.
What Happened: In the late hours of trading on Friday, the railway company announced that it was declared the lowest bidder for an order from South Eastern Railway. The project involves designing, supplying, installing, testing, and commissioning a 132-kilovolt traction substation, along with sectioning posts (SPs) and sub-sectioning posts (SSPs) for a 2×25 kilovolt system.
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This work is to be carried out on the Rajkhaswan-Nayagarh-Bolani section of the Chakradharpur division of South Eastern Railway to achieve a 3,000MT loading target. The project will be executed on an EPC (Engineering, Procurement, and Construction) basis.
The order is worth around ₹191.53 crore and is set to be completed in 18 months. The order comes on the heels of the rail infra major bagging an order from East Coast Railway valued at approximately ₹160.08 crore.
Earlier in the month, it was declared the lowest bidder for an order from Central Railways, valued at around ₹138 crore.
Price Action: RVNL’s share price was up 5.8% to close at ₹409.75 on Friday.
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