RVNL Shares Surge 6% Following ₹968 Crore Railway Contract Win
RVNL shares jump 6% on railway order worth Rs 967 crore. Check details
The Economic Times
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Rail Vikas Nigam Limited (RVNL) shares rose over 6% after the company secured a ₹968 crore (approximately $116 million USD) railway construction order from East Coast Railway. The project involves building key bridges in Odisha and will be executed over three years.
- 01RVNL secured a ₹968 crore order from East Coast Railway.
- 02Shares increased by over 6%, reaching ₹311.85, the highest in nearly seven weeks.
- 03The stock has gained 12% in the past week and 15% in the last month.
- 04RVNL shares have surged approximately 320% over three years.
- 05Railway stocks generally performed well, with Ircon International leading gains.
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Shares of Rail Vikas Nigam Limited (RVNL) jumped more than 6% to ₹311.85 on Friday after the company was awarded a significant railway contract worth ₹968 crore (approximately $116 million USD) from East Coast Railway. This contract involves the construction of essential bridges on the Bhadrak–Vizianagaram section in Odisha, and is expected to be completed over a period of three years. RVNL's stock has shown remarkable growth, gaining 12% in the past week and 15% in the last month, with an overall increase of around 320% over the last three years. The positive sentiment in the railway sector was reflected in the performance of other railway stocks as well, with Ircon International surging more than 10%.
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The contract will enhance railway infrastructure in Odisha, potentially improving connectivity and transport efficiency in the region.
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