RVNL‘s share bumped up on Friday after the company announced bagging the letter of acceptance for an order from South Easter Railways.
What Happened: The project involves the design, supply, installation, testing, and commissioning of a 132-kilovolt traction substation, along with sectioning posts and sub-sectioning posts in a 2×25 kilovolt system on the Kharagpur – Bhadrak section of the South Eastern Railway’s Kharagpur division to handle a capacity of 3000 metric tonnes.
The company was declared the lowest bidder for the ₹202.87 crore order back in July. The project was expected to be completed in 18 months.
See Also: Garden Reach Shares Tick Up On Contract Win To Supply Double Lane Bridges For National Highways
Earlier this, RVNL announced winning another order from Southern Railway. The order involved implementing a multi-section digital axle counter alongside the existing DCTC at stations to serve as dual detection and replacing the remaining AFTCs in the MAS-GDR and MSB-TBM automatic block signalling sections of Chennai Division, Southern Railway.
On Thursday, RVNL entered into a strategic partnership with Patel Engineering through a memorandum of understanding. The collaboration aimed to jointly execute hydro and other infrastructure projects in India and abroad. This partnership combined Patel Engineering's extensive infrastructure experience with RVNL's expertise in rail and transport infrastructure.
Price Action: RVNL’s share price was up 3.99% to trade at ₹602.95 at the time of writing on Friday.
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