RVNL shares rise 4% on bagging Rs 156-cr order from South Western Railway

Under the collaboration, RVNL will construct 2X25 KV OHE and PSI system including electrical general services, engineering and telecommunication works between Rayadurga and Topavagada

Rail Vikas Nigam (RVNL) shares gained 3.5 per cent on BSE, logging an intraday high at Rs 349.4 per share. The stock rose after the company received letter of acceptance (LoA) from South Western Railway.

 

Around 9:43 AM, RVNL share price was up 3.25 per cent at Rs 348.35 per share on BSE. In comparison, the BSE Sensex was down 0.09 per cent at 74,276.01. The market capitalisation of the company stood at Rs 72,631.68 crore. The 52-week high of the stock was at Rs 647 per share and the 52-week low was at Rs 213 per share. 

 

Under the collaboration, RVNL will construct 2X25 KV OHE and PSI system (TSSs & SPs & SSPs) including electrical general services, engineering and telecommunication works between Rayadurga and Topavagada. The order is worth Rs 156 crore and has to be completed in 18 months. 

 

 

"It is hereby informed that Rail Vikas Nigam Limited has received Letter of Acceptance from South Western Railway for “Engineering, Procurement, and Construction (EPC) for Design, Supply, Erection, Testing, Commissioning of 2X25 KV OHE & PSI system (TSSs & SPs & SSPs) including Electrical General Services, Engineering & Telecommunication works between Rayadurga (Excl.) (CH: 205/463) Topavagada (Incl.) (CH: 106/000) of TK-RDG section (99.463 RKM/114.145 TKM)," the filing read.  

 

Recently, RVNL received LoA from Himachal Pradesh State Electricity Board Limited (HPSEBL) as well.  

Under the contract, RVNL will develop and distribute infrastructure at central zone of Himachal Pradesh. The order is worth over Rs 729 crore and has to be completed within two years. 

 

Prior to that, the company secured Rs 554 crore order from Rail Infrastructure Development Company (Karnataka). Under the contract, the company was supposed to construct nine stations i.e. Elevated (1 No.) and At-Grade (8 Nos.) BSRP Stations of Corridor-4A at Heelalige, Singena Agrahara, Huskur, Ambedkar Nagar, Carmelaram, Bellandur, Marathahalli, Doddanakundi, Kaggadasapura. 

 

In Q3, RVNL posted a 13 per cent decline in consolidated net profit to Rs 311.58 crore as compared to a profit of Rs 358.57 crore a year ago. The company’s revenue, however, declined by 2.6 per cent year-on-year (Y-o-Y) to Rs 4,567.38 crore as compared to Rs 4,689.33 crore a year ago. 

 

In the past one year, RVNL shares have gained 41.7 per cent against Sensex's rise of 0.29 per cent.