RVNL Shares Rebound After 2 Days On Another Order Win From Central Railways

RVNL‘s share price jumped back in the green on Wednesday, set to halt its two-session losing streak.

What Happened: The company said it was declared the lowest bidder for an order from Central Railways, according to a regulatory filing on Tuesday. The order is valued at around ₹132.59 crore and is expected to be completed in two years.

This order involves overhead equipment (OHE) modification work to upgrade the existing 1 x 25 kilovolt electric traction system to a 2 x 25 kilovolt AT feeding system in the Wardha-Ballarshah section of the Nagpur division of Central Railway, aiming to meet a loading target of 3,000 million tonnes.

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Last month, the company also secured a letter of acceptance from North Central Railway for a ₹72.73 crore project, expected to be completed within 455 days.

This project involves automatic signalling work in the Dhaulpur-Gwalior section of the Jhansi division of the North Central Railway. The company had also announced the incorporation of an overseas subsidiary, RVNL Middle East Contracting L.L.C, in Dubai.

In the last 30 days, the rail infra major has bagged orders worth over ₹1,000 crore. Despite the orders, the RVNL share price has had a quiet few weeks. In the last 30 days, the stock has jumped only around 2%.

Price Action: RVNL’s share price was up 1.73% to trade at ₹418.10 as the markets opened on Wednesday.

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