RVNL shares rise 11% on Rs 106-crore order win; check details

Shares of state-run Rail Vikas Nigam Ltd (RVNL) zoomed over 11% today after the PSU said it won an order worth Rs 106.37 crore from Madhya Pradesh Paschim Kshetra Vidyut 1 Vitran company.

RVNL shares climbed 11.55% to a high of Rs 256.35 on BSE. Total 51.57 lakh shares of RVNL changed hands amounting to a high turnover of Rs 126.98 crore. 

Market cap of RVNL rose to Rs 51,354 crore on BSE. Later, the railway sector stock saw some profitbooking and was trading 7.40% higher at Rs 246.80 in the afternoon session. 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 40.4, signaling it's trading neither in the overbought nor in the oversold zone. Rail Vikas Nigam shares are trading lower than the 5 day, 10 day, 20 day, 30 day but higher than the 50 day, 100 day, 150 day and 200 day moving averages.       

The order relates to the supply, installation, testing and commissioning of new 11 KV line for bifurcation & interconnection, Additional 11 KV Bay at 33 / 11 KV substation, augmentation of conductor of 33 KV & 11 KV Lines, additional distribution transformer substations with associate New 11 KV Lines, LT Line on AB cable, conversion of bare LT line with AB Cable and augmentation of LT AB Cable.

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.     

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