RVNL shares declines despite securing major work order from IRCON International Limited
Shares of Rail Vikas Nigam Limited have plunged over 3.86% despite the company bagging a work order from another railway PSU, IRCON International Ltd, worth Rs 178.64 crores.
New Delhi, 20 May 2025: Railway Construction arm, Rail Vikas Nigam Limited, emerges as the Lowest Bidder (L1) from IRCON International Limited for Supply of various signalling, telecommunications, and EIMWB materials; Installation, Testing and Commissioning of Distributed/Centralised Electronic Interlocking (El) Installations at 10 new stations.
The Name of the stations are Surakachhar, Block Cabin, Katghora Road, Bhingra, Putuwa, Matin, Sendurgarh, Putipakhana, Dhangawan and Bhadi stations; 06 new IBSs in the Bhingra-Putuwa, Putuwa-Matin, Sendurgarh-Putipakhana, Putipakhana-Bhadi, Bhadi Dhangawan & Dhangawan-Pendra Road block sections; Installation, Testing and Commissioning of New Section Control System with Headquarters and Wayside Train Control Communication Equipment/System in the Gevra Road-Pendra Road section; Installation, Testing and commissioning of new Telephone Exchange and EIMWBs at appropriate location(s) through execution of various signalling & telecommunications works; alterations/modifications in the existing panel interlocking installation at Kusmunda Block Station (KBS) yard and the existing electronic interlocking installation at East Cabin of the SECL SILO Siding (KMKA) yard including other miscellaneous works.
Join PSU Connect on WhatsApp now for quick updates! Whatsapp Channel
The time by which the order is to be executed is 11 Months. The Broad consideration or size of the order is Rs 178.64 crores.
Despite this, the shares of the Railway PSU have plunged over 3.82% to Rs 415.00 at BSE. The stock was opened at Rs 440.00 on Tuesday’s session. However, the stock has been corrected by 10.65% in the last month.
Read Also : REC Limited Organizes Blood Donation Camp on World Blood Donor Day