RVNL soars over 4.50%, RailTel jumps 2.30% after Railways firms receive orders

Rail Vikas Nigam Limited (RVNL) rose over 4.50 per cent while RailTel Corporation of India jumped by 2.30 per cent in morning deals on Tuesday (March 26, 2024) after the railway companies received their respective orders. 

While RVNL has signed an agreement with Airport Authority of India (AAI) for a project in Kolkata worth Rs 229.43 crore, RailTel has received an order from Center for Development of Advanced Computing. Here we take you through the performance of RVNL and RailTel stocks.

RVNL share price

RVNL jumped to the day's high of Rs 261.20, a 4.56 per cent rise from its previous close of Rs 249.80.

The stock was trading up by 4.38 per cent, or Rs 10.95, at Rs 261.10 at 10:14 am on Tuesday. 

What is RVNL's order?

In a statement on Friday, RVNL said that it had signed a MoU with M/s. Airports Authority of India (AAI) for the construction of subway/underpass to connect operational area to the Airport Authority of India's residential colony in Kolkata.

The estimated cost of the project is Rs. 229.43 crore (including GST).

RailTel share price

RailTel also started off on a positive note on Tuesday, rising to the day's high of Rs 368.50, a 2.30 per cent jump from Friday's close of Rs 360.20.

The stock was trading up by 1.32 per cent, or Rs 4.75, at Rs 364.95 on Tuesday.

What is RailTel's order?

In a statement on Saturday, RailTel said that it had received the work order from Centre For Development of Advanced Computing for VMWare virtualisation licences with 3 years support amounting to Rs. 36,35,99,985 (Including Tax).

The order is to be executed by July 19, 2024.