RVNL share price up 2% on NHAI project win; stock up 289% in 1 yr

The share touched a 52-week high of Rs 144.50 and a 52-week low of Rs 30.30 on 8 May 2023 and 15 July 2022, respectively.

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Rail Vikas Nigam (RVNL) share price gained 2.5 percent in early trade on July 14 on receiving Letter Of Award (LoA) for NHAI project worth Rs 808.50 crore.

Rail Vikas Nigam has received LOA for rehabilitation and up gradation from 4 to 8 laning of Chandikhole – Paradip Section of NH-53 (Old NH – 5A) from Km. 60.000 to Km. 76.646 (Package-4) in the State of Odisha on HAM mode – 2nd Call.

The said contract is to be executed in 24 months.

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Earlier in this month, the company emerged as the lowest bidder (L1) for rehabilitation and up gradation from four to eight-laning of the Chandikhole- Paradip Section of NH-53 in Odisha on HAM mode.

The contract has been awarded by the National Highways Authority of India (NHAI) and at a cost of Rs 808,48,28,700, the company said. The contract is to be executed in 24 months.

In the month of June, the company won two orders worth Rs 280 crore from Madhya Pradesh Poorv Kshetra Vidyut Vitaran Company Ltd (MPPKVVCL) in Jabalpur.

The first order includes supply, installation, testing and commissioning of new 11 KV lines, low tension lines on AB cable and other activities in the Chhatarpur circle of MPPKVVCL. The order is valued at Rs 126.8 crore. The second order is similar but has to be executed in the Seoni and Narsinghpur circle. This order is valued at Rs 154.23 crore.

On June 20, the company received three Letters of Acceptance from Chennai Metro Rail Limited (CMRL) of Underground Stations for phase-II Project, with a total value of Rs 2,326 crore.

At 09:24 am, Rail Vikas Nigam was quoting at Rs 120.45, up Rs 1.80, or 1.52 percent on the BSE.

In the previous trading session, the share closed down 1.66 percent or Rs 2.00 at Rs 118.65.

The share touched a 52-week high of Rs 144.50 and a 52-week low of Rs 30.30 on 08 May, 2023 and 15 July, 2022, respectively.

The share price rose 289 percent in the last 1-year.

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