RVNL closes 7% higher after bagging order worth ₹239 crore from Southern Railway

The company’s stock closed at ₹275 apiece on the NSE, up by 7.5%.

RVNL has received an order from Southern Railways to provide an automatic block signalling system. This signalling system will be used from Jolarpettai Junction to Erode Junction of Salem Division. The period by which the contract is to be executed is 12 months.

“Rail Vikas Nigam Limited has received a Letter of Acceptance from Southern Railway for the provision of an automatic block signalling system in Jolarpettai Junction to Erode Junction of Salem Division in Southern Railway,” the company said.

On Friday, May 10, RVNL informed the bourses that it had bagged a contract worth ₹ 38.10 crore from the South East Central Railway. Under the terms of the contract, RVNL will provide Auto Signalling with Electronic Interlocking (OFC Based) between Champa Saragaon-Baraduar-Sakti section of the South East Central Railway.

Additionally, RVNL will also execute the construction and electrification of all indoor and outdoor works of the huts in Champa-Sakti Section of the Bilaspur Division

RVNL also told the exchanges that it will hold its Q4FY24 result earnings call with analysts and investors on May 17 at 4:30 PM, following the announcement of results for the quarter and year ended March 31, 2024.