Rail Vikas Nigam Ltd (RVNL) shares jumped 8 percent in the morning trade on April 28 after the company announced winning a Rs 121-crore project from the North-Central Railways.
The project is for the provision of E1-based automatic signaling with continuous track circuiting and other associated works on the Jhansi-Gwalior section of the Jhansi Division of North Central Railway, the construction arm of the rail ministry said in an exchange filing.
The order has to be executed in 18 months, Rail Vikas Nigam Ltd said.
At 10.47 am, the share was trading 4.4 percent higher on the BSE at Rs 107.67, not too far from its 52-week high of Rs 107.67. The stock has zoomed 40 percent in the past week and over 60 percent in the past month.
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As on March 31, 2023, based on the projections, the company will have an order book of around Rs 55,000-60,000 crore. Out of Rs 55,000 crore, 20 percent is through market bidding, and the rest are railway projects, which have been given on a nomination basis, RVNL said in its latest conference call.
RVNL has been contributing more than 30 to 35 percent to the railway infrastructure. It has commissioned more than 15,000 route kilometers of the railway infrastructure, doubling new lines, gauge conversions and railway electrification. Besides, it is also engaged in metro construction. It has completed and commissioned 16 turnkey projects.
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