RVNL Bags ₹202.87 Cr Order From South Eastern Railways

RVNL announced bagging an order from South Eastern Railway after market close on Tuesday.

What Happened: The rail infra major in an exchange filing informed that it has been declared the lowest bidder for an order from South Eastern Railway. The order is for the design, supply, erection, testing, and commissioning of a 132-kilovolt traction substation, sectioning posts (SPs), and sub-sectioning posts (SSPs) in a 2×25 kilovolt system on the Kharagpur – Bhadrak section of the Kharagpur division of South Eastern Railway.

The order is worth around ₹202.87 crore and is expected to be completed in 18 months. The railways stock has been on a dream run over the past few days. Just today, the stock went on to a new all-time high of ₹619. However, after the initial surge the stock moderated to close in the red ending its four straight sessions gaining streak.

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Last week, the company announced bagging a ₹132 crore order from Central Railways. It also announced signing an MoU with DMRC for future projects. In the last 30 days, the rail infra major has secured contracts worth over ₹1,000 crore.

Price Action: RVNL’s share price was down 4.09% to close at ₹542.75 on Tuesday.

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Posted In: EquitiesNewsContractsMarketsRail Vikas Nigam