RVNL on Wednesday evening announced bagging another order from Southern Railways.
What Happened: The rail infra company informed the exchanges that it has received a Letter of Acceptance from Southern Railway for automatic signalling work on the Ernakulam JN (ERS) – Vallattol Nagar (VTK) section on B-Route of Thiruvananthapuram Division in Southern Railway.
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The order is worth around ₹156 crore and is expected to be completed in 750 days. The order is awarded to a joint venture between RVNL and KRDCL. RVNL’s share of the JV is 49%.
Last week, the railway company announced it was declared the lowest bidder for an order from South Eastern Railway. The project includes 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. The order is worth around ₹191.53 crore and is set to be completed in 18 months.
Price Action: RVNL's share price was up 0.48% to close at ₹409.1 on Wednesday.
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