Shares of Rail Vikas Nigam Ltd (RVNL) surged 4 per cent on receipt of multiple contracts.
The company bagged a ₹138.45-crore order from Central Railway for upgradation of the existing 1 x 25 kV electric traction system to 2 x 25 kV AT feeding system in the Amla-Nagpur section in Nagpur division to meet 3,000 MT loading target. The order is valued at ₹138.45 crore.
RVNL also received a ₹394.23-crore contract from Bangalore Metro Rail Corporation Ltd for engineering, supply, erection, testing, and commissioning of 33 KV distribution, 750V DC third rail traction electrification including traction substations, auxiliary substations, and SCADA system for phase-2A and phase 2 B.
The stock of RVNL traded at ₹389.15 on the NSE, up by 4.06 per cent as of 2.33 pm.