RVNL shares jump 2% on Rs 178.65 cr contract from IRCON International

Shares of Rail Vikas Nigam Limited (RVNL) jumped 2% to hit their day’s high of Rs 330.65 on the BSE after the company announced it has received a Rs 178.65 crore order from IRCON International.

The order involves the supply of signalling, telecommunications, and EIMWB materials along with installation, testing, and commissioning of Distributed/Centralised Electronic Interlocking (EI) systems at 10 new stations, including Surakachhar, Block Cabin, Katghora Road, Bhingra, and Putiwa.

Additionally, it covers six new IBSs across key block sections such as Bhingra-Putiwa, Putiwa-Matin, and Dhangawan-Pendra Road.

“Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, it is hereby informed that Rail Vikas Nigam Limited has received LOA from IRCON International Limited for “Supply of various signalling, telecommunications and EIMWB materials; Installation, Testing and Commissioning of Distributed/Centralised Electronic Interlocking (EI) Installations at 10 new stations,” the company said in an exchange filing.

The scope also includes the commissioning of a New Section Control System, installation of wayside train communication equipment in the Gevra Road–Pendra Road section, and setting up of a new Telephone Exchange and EIMWBs. The project further requires alterations to existing interlocking systems at Kusmunda Block Station and the SECL SILO siding yard.

According to the filing, the contract is domestic, valued at Rs 1,78.65 crore (inclusive of transportation, insurance, and taxes), and is expected to be completed within 11 months, including the monsoon period.

RVNL share price history

Shares of RVNL have recorded a 42.87% decline over the past 1 year and a 23.83% drop on a year-to-date (YTD) basis.

Additionally, it has witnessed a 20.45% slide over the past 3 months. In the last 1 month, the stock declined by 13.34%.

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