RVNL on good tracks

RVNL is a bright star today morning; from its close of Rs.154.40, it opened today at Rs.158.40 and went to Rs.163, just a tad away from its 52-week high of Rs.163.45, which it had hit yesterday.

The stock price reacted to its announcement that its JV, which is RVNL-MPCC, has emerged as the lowest bidder for a railway project worth Rs 174 crore. This is for all civil engineering works (earthwork, blanketing, construction of station buildings etc) and complete track works, including gauge conversion work between Petlad - Bhadran (22.50 kms) of Vadodara Division of Western Railway.

Yesterday, it hit a new high after winning orders worth Rs.604 crore from Madhya Gujarat Vij Company.