RVNL’s share price saw a nearly 2 percent increase in early trade on June 27 following the company’s contract win from Southern Railway.
At 09:33 am, RVNL was trading at Rs 416.45, up Rs 7.40, or 1.81 percent, on the BSE.
The KRDCL-RVNL joint venture has secured a letter of acceptance (LoA) from Southern Railway for the installation of automatic signalling on the Ernakulam JN (ERS) – Vallattol Nagar (VTK) section of the Thiruvananthapuram Division’s B-Route.
The contract, valued at Rs 156.47 crore, allocates 49 percent to RVNL, with the remaining held by KRDCL. The project is scheduled for completion in 750 days.
RVNL has been actively securing contracts recently, including being the lowest bidder for projects from South Eastern Railway and East Coast Railway in June, as well as securing a contract from Central Railway earlier in the month.
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