RVNL shares rise 3%—Here's what is keeping investors keen

RVNL share price today NSE, RVNL new order news: Rail Vikas Nigam Ltd (RVNL) shares gained over three per cent on Monday, June 10, after railway PSU emerged as the lowest bidder for a project of Southern Railways. The PSU stock gained as much as 3.2 per cent to the day's high of Rs 386.8 on NSE in morning deals.

According to a statement, the project is to be completed in 750 days. The project cost is Rs 156.47 crore. 

"It is hereby informed that M/s KRDCL-RVNL JV emerges as the Lowest Bidder (L1) 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,” said RVNL's filing dated June 7.

In addition, the firm informed the exchanges in a filing dated June 7, regarding the appointment of N. C. Karmali, Executive Director (Coord.)/Gati Shakti, Railway Board as part-time (official) Government Nominee Director on the board of Rail Vikas Nigam. 

RVNL share price history 

RVNL's stock has given a multi-bagger return of over 200 per cent in the last 12 months (from June 12, 2023). In comparison, the headline index Nifty 50 has rallied nearly 26 per cent.

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