New Delhi: Rail Vikas Nigam Limited (RVNL) is getting orders one after the other. There is a lot of action in the stock based on this order. Within no time the share has crossed Rs 600. This week alone, a rise of Rs 135 was recorded in the share. The latest news is that the Railway PSU has received another project. With new project in its kitty, RVNL share is expected to be in focus on July 15, i.e. Monday.
RVNL share price rallied over 60 per cent in the last one month, over 180 per cent in past six months and 423 per cent in the last one year. The stock closed at Rs 625.75 on July 12, 2024.
RVNL Order Details
According to the information available on the BSE website, Rail Vikas Nigam Limited has received a work order worth Rs 132.59 crore from Central Railways. This project is to be completed in 24 months. This week the company has received 3 big orders. It has been selected as L1 bidder for a project.
What is the order book of RVNL?
The order book of RVNL was around Rs 85000 crore at the end of FY 2024. After that, in the last 3 months the company has received orders worth thousands of crores. Apart from India, this company has operations in countries like South Africa, Oman, UAE, Maldives. Even in the budget, the government’s focus will be on railway infra. Rail Vikas Nigam Limited is expected to get big benefit from this.
In a separate development, RVNL has entered into a Memorandum of Understanding (MoU) with Delhi Metro Rail Corporation Ltd (DMRC) to collaborate on upcoming projects both within India and internationally.
RVNL contract with Central Railways
Earlier, on July 2, RVNL announced securing another contract from the Central Railways. According to an exchange filing by the state-owned rail infrastructure company, it has been awarded the contract as the lowest bidder for modifying overhead equipment (OHE). This modification work aims to upgrade the existing 1 x 25-kilovolt electric traction system to a 2 x 25-kilovolt AT feeding system in the Wardha-Ballarshah section of the Nagpur division of Central Railway, to accommodate a loading target of 3,000 MT. The contract is valued at ₹132.59 crore and is expected to be completed within two years.
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RVNL share news: In a separate development, RVNL has entered into a Memorandum of Understanding (MoU) with Delhi Metro Rail Corporation Ltd (DMRC) to collaborate on upcoming projects both within India and internationally. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
