RVNL shares zoom after railway PSU firm bags four orders worth Rs 2,093 crore
RVNL share price: The companys market capitalisation at the time of writing this report stood at Rs 52,208.9 crore on the BSE.
RVNL share price, RVNL new orders: Shares of Rail Vikas Nigham (NSE: RVNL) zoomed in early trade on Monday, March 11, on bagging four orders worth 2,093 crore. The PSU stock rose as much as 8.21 per cent to the day's high of Rs 257.55 on the BSE. The counter settled 3.07 per cent, or Rs 7.3, higher at Rs 245.3 on the BSE. It was the second straight day of gains.
The company's market capitalisation at the time of writing this report stood at Rs 51,145.54 crore on the BSE.
RVNL new orders, RVNL latest orders
Indian Railways PSU informed exchanges on March 9 that it has received an order from the Madhya Pradesh Metro Rail Corporation to design and build an elevated viaduct, five elevated metro stations, and a ramp between chainages. According to the exchange filing, the project is slated for completion in 1,092 days, with the total cost of the order amounting to Rs 543 crore.
In addition, the railway construction company received an order from the Himachal Pradesh State Electricity Board for the development of distribution infrastructure at SOUTH ZONE of Himachal Pradesh under the Revamped Reforms-Based and Results-Linked Distribution Sector Scheme (Loss Reduction Works). The project is slated for completion in 24 months, with the total cost of the order amounting to Rs 888 crore.
The company also bagged an order worth over Rs 409 crore from the Himachal Pradesh State Electricity Board for the development of distribution infrastructure in the North Zone of Himachal Pradesh. The project is slated for completion in 24 months.
Moreover, RVNL received LOA for “Supply, Installation, Testing, and Commissioning of 11 KV Line-Associated Works such as 11 KV Line Bifurcation, 11 KV Line Interconnection, 11 KV Line Conductor Augmentation, LT AB Cabling Augmentation, and conversion of LT Bare conductor to AB cabling under Revamped Reforms-based and Results-linked, Distribution Sector (Package-11) in Jabalpur (City), Jabalpur (O&M), Katni, Mandla, Dindori, Seoni, Chhindwara, Narsinghpur, Balaghat, Shahdol, Anuppur, and Umariya Circles of MPPKVVCL, Jabalpur Company area."
The period by which the order worth Rs 251 crore has to be executed is 24 months.
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