RVNL JV gets LoA worth Rs 156.47 crore from Southern Railway; shares gain 2%

RVNL JV gets LoA worth Rs 156.47 crore from Southern Railway; shares gain 2%

Rail Vikas Nigam (RVNL) share price jumped nearly 2 percent in the early trade on June 27 after the company bagged an order from Southern Railway.

At 09:33am, Rail Vikas Nigam was quoting at Rs 416.45, up Rs 7.40, or 1.81 percent, on the BSE.

KRDCL-RVNL JV has received a letter of acceptance (LoA) from Southern Railway for the provision of automatic signalling on Ernakulam JN (ERS) - Vallattol Nagar (VTK) section on B-Route of Thiruvananthapuram Division in Southern Railway.

The contract is worth Rs 156.47 crore, in which RVNL shares stand at 49 percent, while the remaining holds KRDCL.

The said order is to be completed in 750 days.

Catch all market action in our live blog

On June 21 company emerged as the lowest bidder (L1) from SER HQ-Electrical/South Eastern Railway for the design, supply, erection, testing & commissioning of 132 KV traction substation, sectioning post (SPs), and sub-sectioning post (SSPs) in 2x25KV System on Rajkhaswan- Nayagarh-Bolani section of Chakradharpur division of South Eastern Railway to meet 3000MT loading target on EPC mode. The cost of work is 191 crore.

On June 14, the company bagged a contract from East Coast Railway worth Rs 160 crore.

On June 10, the company emerged as the lowest bidder from Central Railway for OHE modification work for the up-gradation of the existing 1 x 25 kV electric traction system to 2 x 25 kV AT feeding system in the Amla-Nagpur section in Nagpur division of Central Railway to meet 3000 MT loading target. The cost of work is Rs 138,45,86,991.62 and is to be executed in 24 months.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.