The shares of Rail Vikas Nigam (RVNL) kept increasing on Tuesday, climbing 6% in intraday trade on the BSE to reach a new high of Rs 58.05. As opposed to the 0.24 % decline in the S&P BSE Sensex at 11:04 am, the stock was trading 5% higher at Rs 57.50.
Since October 20, when the business disclosed receiving several orders, the stock price of RVNL has increased by 62% during the past 16 trading days from a level of Rs 35.80. Compared to a 3% gain in the Sensex over the last three months, the stock price of RVNL has increased by 90%.
On November 11, RVNL announced that the business has been chosen as the preferred bidder for the Development of UTF (Uthuru Thila Falhu- Island) Harbour international project in the Maldives. This is a significant project for the Indian government, with a budget of roughly Rs. 1544.60 crore.
On November 4, the business announced that it had been given a contract worth Rs 137.55 crore for boosting the Pradhankhanta-Bandhua portion of the Dhanbad Division’s speed potential to 160 KMPH. On October 20, RVNL announced that it had been given the contract for AMC area Packages 2 and 3 for the Development of Kharicut Canal (between Naroda Smashan Gruh and Vinzol Vehla). The contract cost Rs 484 crore in total.
Earlier, on September 29, the company announced that it had been awarded a contract by the National Highways Authority of India (NHAI) for the construction of a four-lane highway from Samarlakota to Achampeta Junction (for a distance of 12.25 km) as part of the Bharatmala Pariyojana’s Kakinada port to NH-16 connectivity in the State of Andhra Pradesh.
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