RVNL shares in news today as firm receives order from South Eastern Railway

Shares of Rail Vikas Nigam Ltd (RVNL) are in news today after the railway firm said it has received a Letter of Acceptance from SER HQ-Electrical/South Eastern Railway for a project worth Rs 191.53 crore. The project involves the design, supply, erection, testing, and commissioning of a 132 KV traction substation, sectioning posts (SPs), and sub-sectioning posts (SSPs) in a 2x25KV system on the Rajkhaswan-Nayagarh-Bolani section of the Chakradharpur division of South Eastern Railway.

RVNL shares ended 0.46% higher on Wednesday on BSE. A total of 20.70 lakh shares of RVNL changed hands amounting to a turnover of Rs 123.21 crore. Market cap of RVNL climbed to Rs 1.23 lakh crore on BSE. 

RVNL shares have a one-year beta of 1.3, indicating high volatility during the period.      

The stock fell to a 52-week low of Rs 119.75 on July 28, 2023 and hit a record high of Rs 647 on July 15, 2024. 

In terms of technicals, the relative strength index (RSI) of RVNL stands at 66.1, signaling it's trading neither in the overbought nor in the oversold zone. Rail Vikas Nigam shares are trading higher than the 20 day, 30 day, 50 day, 100 day, 150 day, 200 day but lower than the 5 day and 10 day moving averages.

The project has to be completed in 18 months.

“This is in continuation to our letter no. RVNL/SECY/STEX/2024 dated 21.06.2024. In terms of Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, it is hereby informed that Rail Vikas Nigam Limited has received Letter of Acceptance from SER HQELECTRICAL/SOUTH EASTERN RAILWAY for “Design, Supply, Erection, Testing & Commissioning of 132 KV Traction Substation, Sectioning post (SPs), and Sub sectioning post (SSPs) in 2x25KV System on Rajkhaswan- Nayagarh-Bolani section of Chakradharpur division of South Eastern Railway to meet 3000MT loading target on EPC mode,” said the firm in a communication to bourses.