RVNL secures order from South Eastern Railway worth ₹191 crore ; stock closed 3% lower

RVNL reported that the company has won an order from SER HQ-Electrical/South Eastern Railway for the design, supply, erection, testing, and commissioning of 132 kilovolt (KV) Traction Substation, Sectioning posts, and sub-sectioning posts in a 2x25 KV System. The order will be executed on the Rajkhaswan-Nayagarh-Bolani section of the Chakradharpur division of South Eastern Railway.

RVNL will undertake the order in an engineering, procurement, and construction (EPC) mode. The order is worth ₹191 crore and is expected to be executed within 18 months.

Last week, the company announced that it had signed a Memorandum of Understanding (MoU) with United Construction, Israel to cooperate with each other to win and develop projects in Israel. The scope of work includes railways, metro rail transit systems (MRTS), tunnels, roads (highways and expressways), bridges, building works, airports, and other infrastructural developments. The MoU also includes projects in the solar and wind sectors in Israel.

Further, the company announced that its special purpose vehicle Krishnapatam Railway Corporation (KRCL), in which RVNL holds a 49.76% stake, has settled a dispute with the Ministry of Railway. Following the settlement, KRCL was awarded ₹584.22 crore by the tribunal.

RVNL also announced recently that it had bagged an order worth ₹160 crore from the East Coast Railway. The company won the order for the provision of an Automatic Block Signaling System with dual MSDAC. Additionally, the company will alter the existing EI/PI/RRI stations in the Khurda Road Division of East Coast Railway.

Shares of the company have risen by nearly 220% since the beginning of the year. The stock has gained over 349% in the past year.