RVNL shares climb 7% on signing MoU with Airports Authority of India

The estimated cost of the project is Rs 229.43 crore, it said.

At 11:08 am, the scrip was trading 6.6% higher at Rs 266.4 on BSE. The stock has also surged over 45% year-to-date, while it has gained over 310% in the past one year.

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Earlier in March, RVNL bagged four orders worth Rs 2,092 crore.

On March 9, the company in a joint venture (JV) with URC received a Letter of Acceptance (LoA) worth Rs 543 crore from Madhya Pradesh Metro Rail Corporation Limited (MPMRCL).

The company also received the letter of award (LoA) from the Himachal Pradesh State Electricity Board for the development of distribution infrastructure at the North Zone of the state under the revamped reforms-based and results-linked distribution sector scheme (loss reduction works). The total cost of the project was pegged at Rs 409.65 crore.

The firm had received a similar order for the south zone of Himachal Pradesh. The total cost of the project was Rs 888.56 crore.

Technically, the stock's day RSI (14) is at 51.4. The RSI below 30 is considered oversold and above 70 is overbought, Trendlyne data showed. MACD is at -3.5, which is below its Center Line, this is a bearish indicator. stands higher than the 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day and 200-day moving averages.

RVNL, a "Schedule ‘A’ Navratna" CPSE under the Ministry of Railways, contributes to approximately 30% of Indian Railways' infrastructure needs. Besides focusing on railway projects, RVNL has ventured into road, port, irrigation, and metro projects, often integrating these with railway infrastructure.

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