RVNL share price today NSE, RVNL new order news: Rail Vikas Nigam Ltd (RVNL) shares gained over three percent on Monday, June 10, after railway PSU emerged as the lowest bidder for a project of Southern Railways. The PSU stock gained as much as 3.2 percent to the day’s high of Rs 386.8 on NSE in morning deals.
According to a statement, the project is to be completed in 750 days. The project cost is Rs 156.47 crore.
“It is hereby informed that M/s KRDCL-RVNL JV emerges as the Lowest Bidder (L1) from Southern Railway for “Provision of Automatic Signalling on Ernakulam JN(ERS) – Vallattol Nagar (VTK) Section on B-Route of Thiruvananthapuram Division in Southern Railway,” said RVNL’s filing dated June 7.
In addition, the firm informed the exchanges in a filing dated June 7, regarding the appointment of N. C. Karmali, Executive Director (Coord.)/Gati Shakti, Railway Board as part-time (official) Government Nominee Director on the board of Rail Vikas Nigam.
RVNL share price history
RVNL’s stock has given a multi-bagger return of over 200 percent in the last 12 months (from June 12, 2023). In comparison, the headline index Nifty 50 has rallied nearly 26 percent.
The article originally appeared on Zee Business.