RVNL shares surge 5% on multiple order wins

The cost of the work is Rs 148.26 crore and is to be completed in 18 months.

RVNL has also emerged as the lowest bidder from NFR-Const HQ-Electrical/NF RLY Construction for engineering, procurement, construction of design, supply, erection, testing, and commissioning of 25 kV, 50 Hz, Single Phase, AC, Electrification OHE, and TSS Works of Araria - Thakurganj New line Section in connection with new line project of Araria - Galgalia of NF Railway, including associated works and supply, erection, modification, testing and commissioning of SCADA for the section.

The cost of the said work is Rs 95.95 crore and is to be completed in 240 days.

Also Read:

Meanwhile, the joint venture between Salasar Techno Engineering and RVNL was the lowest bidder from Energy Development Corporation Limited (EDCL) for plant, design, supply, and installation of 45.8 km, 110Kv Double Circuit Rukarara-Huye-Gisagara Transmission Lines. The total cost of the work is $7,152,236.59 with the RVNL share at 49%.

At 12.13 pm, the stock was trading 3% higher at Rs 261 on BSE. Meanwhile, it has surged 51% in the last six months and 250% in the last year.

Technically, the stock's day RSI (14) is at 52.2. The RSI below 30 is considered oversold and above 70 is overbought, Trendlyne data showed. MACD is at -2.1, which is below its center line, a bearish indicator. stood higher than the 5-day, 10-day, 20-day, 30-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, the company has ventured into road, port, irrigation, and metro projects, often integrating these with railway infrastructure.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)