RVNL‘s share price continued its recovery on Tuesday morning, going up over 2% to hit an intraday high of ₹626.

What Happened: The company on Monday evening announced bagging a massive order from Himachal Pradesh State Electricity Board. The order is for the for the "development of distribution infrastructure at central Zone of Himachal Pradesh" under the Revamped Reforms-based and Results-linked Distribution Sector Scheme.

The contract is worth around ₹739 crore and is expected to be completed in 24 months. The company on Monday also announced that it will report its earnings for the quarter ended June on August 8.

The massive order helped the stock continue its recovery on Tuesday. The railway stock has remained under pressure ever since the budget failed to impress the railway investors. The stock has seen an incredible rally since the start of the year, going up over 230%.

The company’s peer Titagarh Rail Systems is set to report earnings later today.

Price Action: RVNL’s share price was up 2.49% to trade at ₹621.40 shortly after market open on Tuesday.

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