RVNL share price gains 2% on winning Rs 420-crore orders

The share touched a 52-week high of Rs 199.35 on September 12, 2023 and a 52-week low of Rs 35.60 on October 20, 2022.

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Rail Vikas Nigam (RVNL) price added more than 2 percent in the early trade on October 20 after the company said that it received orders worth Rs 419 crore from Western Railways.

RVNL-MPCC (JV) has received a LOA for engineering works and supply of 50 mm machine crushed stone ballast, complete track works including linking of track works in connection with gauge conversion work between Nadiad- Petlad of the Vadodara Division on Western Railway. The order is valued at Rs 245 crore and has to be completed in 24 months.

The company also received the same work order from Western Railways for the Petlad-Bhadran (22.5 km) stretch of the Vadodara division. The Rs 174 core order, too, has to be completed in 24 months.

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These orders are the latest among a string of works bagged by the central government company this month.

On October 11, it emerged as the lowest bidder (L1) for a project of Northeast Frontier Railway. The Rs 28.73 crore project includes the supply, installation, testing, and commissioning of an integrated tunnel communication system on the Sukhovi-Pherima section of the Lumding Division.

The company also received a Letter of Acceptance (LOA) from the Maharashtra Metro Rail Corporation Limited (MMRCL) for the design and construction of an elevated metro viaduct of length 6.92 km. The project cost is Rs 394.89 crore.

At 9.22 am, Rail Vikas Nigam was quoting at Rs 170.65, up Rs 4.00, or 2.40 percent on the BSE.

The share touched a 52-week high of Rs 199.35 on September 12, 2023 and a 52-week low of Rs 35.60 on October 20, 2022. The stock is trading 14.4 percent below its 52-week high and 379.35 percent above its 52-week low.