RVNL on a roll!

RVNL is on a roll! The stock is among the top three gainers on the BSE since the opening bell today and this is on the back of a multiple orders coming in.

The company won the bid from Maharashtra Metro Rail Corporation for  Nagpur Metro, worth Rs.187 crore to be executed over the next 30 months. This is for construction of six elevated metro stations - Cantonment, Kamptee Police Station, Kamptee Municipal Council, Dragon Palace, Golf Club, and Kanhan River Metro Station.

Another one is an MoU signed with TATWEER of Middle East and Africa for various rail-based work in MENA region and European countries. RVNL would also supply, design, and help in implementation and commissioning of smart city, digital transformation and professional engineering services.

Third one – it has emerged as the lowest bidder for SER HQ Electrical, South Eastern Railway for the design, supply, erection, testing and commissioning of 132 KV traction substation, sectioning post (SPs), and sub sectioning post (SSPs) in 2x25KV System on Kharagpur-Bhadrak section of Kharagpur division of South Eastern Railway to meet 3000 mt. The project would take 18 months to execute and the cost of work stands at Rs 203 crore.

The stock price has reacted positively, rising over 10% to hit an intraday high at Rs.598 and is currently trading at Rs.590 levels. Its 52-week high is at Rs.620.