RVNL announced bagging another order from Central Railways on Tuesday evening.
What Happened: The company in an exchange filing on Tuesday said that it was declared the lowest bidder for an order from Central Railways. The order is for OHE (over head equipment) 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.
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The order is worth around ₹132.59 crore and is expected to be completed in two years. Last month, the company announced bagging a letter of acceptance from North Central Railway. The ₹72.73 crore project is expected to be completed within 455 days. The order involves automatic signalling work in the Dhaulpur-Gwalior Section of the Jhansi division of the North Central Railway.
Last week, the company also announced the incorporation of an overseas subsidiary. The Navratna company informed the exchanges about the incorporation of “RVNL Middle East Contracting L.L.C” in Dubai.
Price Action: RVNL’s share price was down 0.96% to close at ₹411 on Tuesday.
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