RVNL announced bagging a massive order from Himachal Pradesh State Electricity Board Ltd.

What Happened: In an exchange filing on Monday evening, the railway company said it has emerged as the lowest bidder for the “development of distribution infrastructure at central Zone of Himachal Pradesh” under the Revamped Reforms-based and Results-linked Distribution Sector Scheme.

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The order is worth over 739.07 crore and is expected to be completed in two years. The RVNL share price recovered sharply today, going up over 9% — breaking its two-straight session losing streak. Last week, the railway infra major bagged a letter of acceptance from the South Eastern Railways. That order is worth around ₹191.53 crore and is set to be completed in 18 months. 

Technical analysts think the stock could return to its all-time high level of ₹640.

Price Action: RVNL’s share price was up 9.77% to close at ₹606.30 on Monday.

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