RVNL shares rise 5% on fresh order win, check details 

Shares of state-run Rail Vikas Nigam Ltd (RVNL) rose 5% in the afternoon session on Friday after the firm said it won a fresh order worth Rs 202.87 crore from South Eastern Railway. The order has to be executed within 18 months. RVNL shares surged 4.94% to Rs 608 on BSE against the previous close of Rs 579.35. Total 17.69 lakh shares of RVNL changed hands amounting to a turnover of Rs 103.95 crore.

Market cap of RVNL stood at Rs 1.26 lakh crore on BSE. RVNL shares have a one-year beta of 1.3, indicating high volatility during the period. 

In terms of technicals, the relative strength index (RSI) of RVNL stands at 55.6, 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.      

"Rail Vikas Nigam Limited received Letter of Acceptance from SER HQELECTRICAL/SOUTH EASTERN RAILWAY for "Design, Supply, Erection, Testing & Commissioning of 132 KV Traction Substation, Sectioning post (SPs), and Sub sectioning post (SSPs) in 2x25KV System on Kharagpur - Bhadrak section of Kharagpur division of South Eastern Railway to meet 3000MT," said RVNL in a commuinication to bourses. 

On Thursday, RVNL said it has inked a MoU with Patel Engineering Limited.

The objective of the MoU is to cooperate and create an enabling framework for achieving synergies in the areas concerning Hydro and other infrastructure Projects and as when opportunities arise in India and Overseas, said RVNL. 

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.