K&R Rail Engineering‘s share price was upbeat on Monday along with several other railway stocks such as RVNL, IRCON and IRFC.

What Happened: The company on Monday afternoon bagged an order from Fomento Resources. This project at Kaley Station in the Hubballi Division of South Western Railway will be carried out in two phases. In phase I, the focus will be on design, consultancy, and obtaining necessary railway approvals for the provision of railway siding facilities.

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In phase II, the project will move into execution on an engineering, procurement, and construction (EPC) basis. This phase will involve the actual construction of the railway siding facilities, following the designs and plans approved in phase I.

The order is worth around ₹110 crore. The order is expected to be completed in 18 months. Earlier in July, the company had bagged an order worth around ₹45 crore from The KCP Limited. The work order entails the construction of railway siding facilities on an EPC basis to facilitate rail connectivity. 

Price Action: K&R Rail Engineering‘s share price was up 5.47% to trade at ₹490 on Monday afternoon.

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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.