Shares of state-run Rail Vikas Nigam Ltd (RVNL) are in news today after the the railway sector firm said Siemens-RVNL Consortium has received a letter of acceptance from Bangalore Metro Rail Corporation for Engineering, Supply, Erection, Testing and Commissioning of 33 KV Distribution, 750V DC Third Rail Traction Electrification including Traction Substations, Auxiliary Substations and SCADA System for Phase-2A & Phase 2 B.
The PSU also won another order worth Rs 138.45 crore.
RVNL emerged as the Lowest Bidder (L1) from Central Railway for “OHE modification work for Up-gradation of existing 1 x 25 kV Electric Traction System to 2 x 25 kV AT Feeding System in Amla-Nagpur Section in Nagpur division of Central Railway to meet 3000 MT loading target.”
RVNL stock slipped 0.16% lower at Rs 373.80 on June 10. Total 12.80 lakh shares of RVNL changed hands amounting to a high turnover of Rs 48.20 crore. Market cap of RVNL slipped to Rs 77,738 crore on BSE. RVNL shares have a one-year beta of 1.5, indicating very high volatility during the period.
The order is to be executed in 130 weeks
The cost of the order is Rs 394.23 crore.
In terms of technicals, the relative strength index (RSI) of RVNL stands at 45.1, signaling it's trading neither in the overbought nor in the oversold zone. Rail Vikas Nigam shares are trading higher than the 5 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.
RVNL is an executing arm of Indian Railways and works for and on behalf of the ministry for projects assigned to it for execution. It works on a turnkey basis and undertakes the full cycle of project development from conceptualisation to commissioning including stages of design, preparation of estimates, calling and award of contracts, project and contract management.