RVNL shares to remain in focus amid fresh order win from East Central Railway

The Shares of Rail Vikas Nigam Ltd (RVNL) are in focus on Wednesday after the railway PSU received a Letter of Acceptance for a project worth Rs 186.76 crore from East Central Railway. RVNL shares climbed 0.15% to Rs 437.60 on BSE in the previous session.

The project involves the design, supply, erection, testing, and commissioning of traction substations with associated switching posts for upgradation work of the electric traction system from 1X25 to 2X25 KV AT feeding system in the Gomoh - Patratu section of the Dhanbad Division of East Central Railway. The order is to be executed in 540 days. 

"Rail Vikas Nigam Limited has received a Letter of Acceptance from East Central Railway for “Design, Supply, Erection, Testing & Commissioning of Traction Sub Stations with associated Switching Posts for upgradation work of electric traction system from 1X25 to 2 X 25 KV AT feeding system in Gomoh - Patratu Section of Dhanbad Division of East Central Railway," said RVNL in an exchange filing made.

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The Market cap of the company is stood at Rs 91,240 crore on BSE. RVNL shares have a one-year beta of 1.5, indicating high volatility during the period. In terms of technicals, the relative strength index (RSI) of RVNL stands at 46.5, signaling it's trading neither in the overbought nor in the oversold zone.

Rail Vikas Nigam shares are trading lower than the 5 day, 20 day, 30 day, 50 day, 100 day, 150 day but higher than the 10 day and 200 day moving averages. 

 

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