Shares of Rail Vikas Nigam Limited (RVNL) rose by over 3 percent to Rs 380 in morning trade on June 7, following the company securing an order worth Rs 495 crore from the National Thermal Power Corporation (NTPC). This order involves construction and installation work for the barrage complex and part of the head race tunnel (HRT) at the Rammam Hydro Electric Project in West Bengal, to be completed in 66 months, according to a regulatory filing.
The railway PSU stock has been performing well in terms of securing orders. On June 6, the company won orders worth Rs 515 crore from Dakshin Haryana Bijli Vitran Nigam Limited and Eastern Railway for the construction of the Sitarampur bypass line under the Asansol division.
Last week, RVNL received a Letter of Acceptance worth Rs 440 crore from South Central Railway for an engineering, procurement, and construction (EPC) tender for the proposed doubling of the track between Ankai and Karanjgaon stations, including electrification and signaling works, as part of the Aurangabad-Ankai Doubling project in the Nanded division of South Central Railway.
The RVNL share price dropped 14 percent on June 4, election result day, following a weak performance by the BJP-led NDA. However, since then, the shares have gained over 5 percent. Over the past month, the share price has surged by 48 percent.
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