RVNL slides over 15% after LoA, while ISMT soars over 10% after getting orders from ONGC

ISMT Ltd soared over 10 per cent, while RVNL dipped over 15.25 per cent on BSE on Monday (April 15, 2024) after both companies won separate orders. 

While ISMT bagged two contracts worth Rs 343.72 crore from ONGC, RVNL got an LoA of Rs 95.95 crore.

Here's how ISMT and RVNL shares were trading on BSE on Monday.

ISMT Ltd share price

The stock of the small-cap company soared by 10.11 per cent to the day's high of Rs 106.00 after closing at Rs 96.27 in the previous session.

The stock that opened at Rs 100.99 on Monday closed trading up by 5.70 per cent, or Rs 5.49 per cent, at Rs 101.76.  

What are ISMT Ltd's orders?

ISMT has received two contracts from Oil and Natural Gas Corporation Limited (ONGC) for supply of products.

As per the order, the company will supply of regular casing pipes accordance with terms and conditions as mentioned in the contracts.

The order needs to be executed from April 11, 2024, till February 13, 2025. 

The aggregate value of two contracts is around Rs 343.72 crore.

RVNL share price 

RVNL dipped by 15.38 per cent at its opening price of Rs 220.00 on Monday having closed at Rs 260.00 on Friday.

The stock of the company, however, recovered, but it ended tha trading session lower by 3.19 per cent, or Rs 8.30, at Rs 251.70.

What is RVNL's order?

RVNL has received a Letter of Acceptance (LOA) from NFR-CONST HQ-ELECTRICAL/N.F.RLY CONSTRUCTION for “Engineering, Procurement, Construction of Design, Supply, Erection, Testing & Commissioning of 25 kV, 50 Hz, Single Phase, AC, Electrification OHE and TSS Works of Araria - Thakurganj New line Section in connection with New Line Project of Araria - Galgalia of N.F. Railway, including associated Works and Supply, erection, modification, testing and commissioning of SCADA for the
section. (106.958 RKM/ 119.27 TKM). (in EPC mode)."