RVNL shares surges amid securing Rs 156 crore order from South Western Railway

State-owned Rail Vikas Nigam (RVNL) shares rose 3.5% on the BSE after receiving the letter of acceptance (LoA) from South Western Railway. The company's stock hit an intraday high of Rs 349.4 per share.

On the BSE, the price of RVNL shares was up 3.25% at Rs 348.35 per share. The BSE Sensex, by contrast, was down 0.09% at 74,276.01. The company's market capitalization was Rs 72,631.68 crore.

RVNL shares have increased 41.7% over the last year, while the Sensex has increased by 0.29%. The stock's 52-week high and 52-week low were Rs 647 and Rs 213 per share, respectively.

As part of the partnership, RVNL will build two 25 KV OHE and PSI systems (TSSs, SPs, and SSPs) between Rayadurga and Topavagada, encompassing engineering, telecommunication, and general electrical services.

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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 an LoA from Himachal Pradesh State Electricity Board Limited (HPSEBL) as well.  Under the contract, RVNL will develop and distribute infrastructure at the central zone of Himachal Pradesh. The order is worth over Rs 729 crore and has to be completed within two years. 

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