RVNL Receives LoA For ₹72 Cr Order From North Central Railways

RVNL on Thursday afternoon said it had bagged an order from North Central Railways.

What Happened: The rail infrastructure company said in an exchange filing that it had received a letter of acceptance from North Central Railway.

The order is for automatic signalling work with continuous track circuiting and other associated works, along with suitable indoor alterations in electronic interlocking stations en route in the Dhaulpur-Gwalior Section of the Jhansi division of North Central Railway.

The company was declared the lowest bidder for this order in May. The ₹72.73 crore order is expected to be completed within 455 days.

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On Wednesday, the company said it had received an letter of acceptance worth over ₹156 crore from Southern Railway for automatic signalling work on the Ernakulam junction (ERS) – Vallattol Nagar (VTK) section on B-Route of Thiruvananthapuram Division in Southern Railway. It was awarded to a joint venture venture (JV) between RVNL and Karnataka Road Development. RVNL's holds a 49% stake in the JV.

Price Action: RVNL’s share price was down 0.27% to trade at ₹408 in the late hours of trading on Thursday.

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