RVNL secures another order win worth Rs 239 crore from Southern Railway; stock up 3%

Rail Vikas Nigam Ltd (RVNL) on Wednesday announced a fresh order win, valued at Rs 239.10 crore, from Southern Railway. "It is hereby informed that RVNL emerges as the lowest bidder (L1) from Southern Railway for Provision of Automatic Block Signaling system in Jolarpettai Junction to Erode Junction of Salem Division in Southern Railway," the state-run firm stated.

Earlier in the day, RVNL declared that its joint venture with KRDCL has bagged an order worth Rs 438.96 crore from Southern Railway for "redevelopment of Thiruvananthapuram Central Railway Station on Engineering, Procurement and Construction (EPC) mode." KRDCL has 51 per cent stake in the JV, while RVNL owns the remaining 49 per cent stake in the venture.

The stock climbed 2.58 per cent to close at Rs 284.45 today. As of March 2024, promoters held a 72.84 per cent stake in the company.

On technical setup, the counter traded higher than the 5-day, 10-, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages (SMAs). The stock's 14-day relative strength index (RSI) came at 68.49. A level below 30 is defined as oversold while a value above 70 is considered overbought.

The company's stock has a price-to-equity (P/E) ratio of 43.16. Earnings per share (EPS) stood at 1.56.

The scrip saw heavy trading volume today as around 13.36 lakh shares changed hands on BSE. The figure was higher than the two-week average volume of 10 lakh shares.

Turnover on the counter came at Rs 37.80 crore, commanding a market capitalisation (m-cap) of Rs 59,308.40 crore.

RVNL is an executing arm of Indian Railways and works for and on behalf of the ministry to execute projects assigned to it. 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.