RVNL shares slip 13% despite Rs 38-crore order win 

Shares of RVNL were trading lower in early deals today after the firm said it won a project worth Rs 38.10 crore. RVNL shares slipped 13% to Rs 351.70 against the previous close of Rs 404.50 on BSE. Total 30.62 lakh shares of RVNL changed hands amounting to a high turnover of Rs 117.63 crore. Market cap of RVNL slipped to Rs 78292.50 crore on BSE. RVNL shares have a one-year beta of 0.1 indicating high volatility during the period.

The duration of the contract is 15 months. The contract relates to the 'Provision of Auto Signalling with Electronic Interlocking (OFC Based)between Champa Saragaon-Baraduar-Sakti section with alteration inexisting Electronic Interlocking & Supply, Installation, Testing,Commissioning of new Electronic Interlocking, MSDAC & IPS etc.,execution of all indoor & outdoor works & construction and Electrificationof the huts etc. in Champa-Sakti Section of Bilaspur Division of S.E.C.Railways."

In terms of technicals, the relative strength index (RSI) of RVNL stands at 85, signaling it's trading in the overbought zone. Rail Vikas Nigam shares are trading higher than the 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.