RVNL shares in news today as firm wins order from Southern Railways

Shares of state-run Rail Vikas Nigam Ltd (RVNL) are in  focus today after the firm said it has received a Letter of Acceptance from Southern Railway for automatic signaling work on the Ernakulam JN (ERS) – Vallattol Nagar (VTK) section on B-Route of Thiruvananthapuram Division in Southern Railway. The order is worth around Rs 156 crore and is likely to be completed in 750 days. The order is awarded to a joint venture between RVNL and KRDCL. RVNL’s share of the JV is 49%.

RVNL stock ended flat at Rs 409.05 on BSE in the previous session.

Total 15.47 lakh shares of RVNL changed hands amounting to a turnover of Rs 63.23 crore. Market cap of RVNL rose to Rs 85,287 crore on BSE. RVNL shares have a one-year beta of 1.4, indicating high volatility during the period.        

In terms of technicals, the relative strength index (RSI) of RVNL stands at 66.6, signaling it's trading neither in the overbought nor in the oversold zone. Rail Vikas Nigam shares are trading higher than the 5 day, 10 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.