RVNL share price rises 3% on ₹554 crore order inflow from NHAI

Stock market Today: RVNL ( Rail Vikas Nigam Ltd) share price gained more than 3% in the opening trades on Wednesday as the company announced winning order worth ₹554 crore order from NHAI (National Highway Authority of India)

RVNL share price opened at ₹341.95 on the BSE on Wednesday. The opening price of RVNL shares was more than 3% higher than the previous day closing price of ₹330.80. RVNL share price thereafter continued trading in the range of RS 334.80 to ₹341.95 in the morning trades.

RVNL order details

RVNL on Tuesday post market hours announced that it has emerged as the Lowest Bidder (L1) from National Highway Authority of India for a road project.

The road project referred to by RVNL is for the construction of 6 lane access controlled connectivity to Visakhapatnam Port Road from Sabbavaram bypass of Anakapalli – Anandapuram corridor to Km 12.660 (Sheelanagar junction) of NH 516C on Hybrid Annuity Mode in the State of Andhra Pradesh under NH (O) on Hybrid Annuity Mode.

The broad consideration for the order or the project order cost is ₹554.64 crore (excluding the Goods and Services Tax)

The RVNL share price has remained in limelight as the company has been receiving regular orders.

RVNL on 6th March had announced receiving a Letter of Acceptance from South Western Railway for “Engineering, Procurement and Construction (EPC) for Design, Supply, Erection, Testing, Commissioning of 2X25 KV OHE (Over head Equipment) & PSI (power Supply Installation system (TSSs & SPs & SSPs) including Electrical General Services, Engineering & Telecommunication works between Rayadurga Topavagada of TK-RDG section.

The project order for South Western Railway or Cost of work stood at ₹156,35,81,976.60/- ( ₹One Hundred Fifty-Six Crore Thirty-five Lakh Eighty-one Thousand Nine Hundred Seventy-Six rupees and Sixty paisa) including applicable taxes.

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