RVNL shares gain on order win from Central Railways
RVNL shares rose 1.5% to Rs 417 in early deals today against the previous close of Rs 411.10 on BSE.
- Jul 3, 2024,
- Updated Jul 3, 2024 9:18 AM IST
Shares of state-run Rail Vikas Nigam Ltd (RVNL) are in news today after the PSU said it won an order from the Central Railways. RVNL shares rose over 1.5% to Rs 417.50 in early deals today against the previous close of Rs 411.10 on BSE.
The state-owned rail infrastructure firm said it has been declared the lowest bidder for overhead equipment (OHE) modification work for upgrading the existing 1 x 25-kilovolt electric traction system to a 2 x 25-kilovolt AT feeding system in the Wardha-Ballarshah section of the Nagpur division of Central Railway to meet a loading target of 3,000 MT.
The total cost of the order is Rs 132.59 crore, which is likely to be finished in two years. RVNL shares have a one-year beta of 1.5, indicating high volatility during the period.
In terms of technicals, the relative strength index (RSI) of RVNL stands at 65, signaling it's trading neither in the overbought nor in the oversold zone. Rail Vikas Nigam shares are trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.
RVNL is an executing arm of Indian Railways and works for and on behalf of the ministry for projects assigned to it for execution. It works on a turnkey basis and undertakes the full cycle of project development from conceptualisation to commissioning including stages of design, preparation of estimates, calling and award of contracts, project and contract management.
Shares of state-run Rail Vikas Nigam Ltd (RVNL) are in news today after the PSU said it won an order from the Central Railways. RVNL shares rose over 1.5% to Rs 417.50 in early deals today against the previous close of Rs 411.10 on BSE.
The state-owned rail infrastructure firm said it has been declared the lowest bidder for overhead equipment (OHE) modification work for upgrading the existing 1 x 25-kilovolt electric traction system to a 2 x 25-kilovolt AT feeding system in the Wardha-Ballarshah section of the Nagpur division of Central Railway to meet a loading target of 3,000 MT.
The total cost of the order is Rs 132.59 crore, which is likely to be finished in two years. RVNL shares have a one-year beta of 1.5, indicating high volatility during the period.
In terms of technicals, the relative strength index (RSI) of RVNL stands at 65, signaling it's trading neither in the overbought nor in the oversold zone. Rail Vikas Nigam shares are trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.
RVNL is an executing arm of Indian Railways and works for and on behalf of the ministry for projects assigned to it for execution. It works on a turnkey basis and undertakes the full cycle of project development from conceptualisation to commissioning including stages of design, preparation of estimates, calling and award of contracts, project and contract management.