RVNL shares rise after PSU bags Rs 156 crore order from Southern Railways

RVNL share price today NSE, RVNL new order: Shares of Rail Vikas Nigam Ltd (RVNL) rose on Thursday, June 27, a day after the KRDCL-RVNL JV received a letter of acceptance (LoA) for a project worth Rs 156.47 crore from Southern Railway. RVNL shares rose nearly three per cent to the day's high of Rs 420.85 on NSE in morning deals. RVNL shares closed at Rs 413.9, up 1.17 per cent on NSE.

The railway PSU said it received a bagged an order from Southern Railway for automatic signaling work on the Ernakulam JN (ERS) – Vallattol Nagar (VTK) section on B-Route of Thiruvananthapuram Division in Southern Railway.  The order is worth Rs 156 crore and will be completed in 750 days. 

RVNL’s share of the JV is 49 per cent while KRDCL holds a 51 per cent stake.

"It is hereby informed that M/s KRDCL-RVNL JV has received Letter of Acceptance from Southern Railway for “Provision of Automatic Signalling on Ernakulam JN (ERS) - Vallattol Nagar (VTK) Section on B-Route of Thiruvananthapuram Division in Southern Railway,” the firm's regulatory filing said added June 26.

RVNL share price history

The PSU stock has given a multi-bagger return of 235 per cent in one year outperforming the 27 per cent rally in the benchmark index Nifty50. The counter has already gained 130 per cent so far this year. 

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