RVNL stocks mild recovers amid bagging Rs 180 crore order

New Delhi: Shares of Rail Vikas Nigam Ltd (RVNL) recovered but were still sluggish in Monday's trade after the railway company emerged as the lowest bidder for a Rs 180 crore order.

In a stock exchange filing, RVNL said it emerged as the lowest bidder (L1) from East Central Railway for the design, supply, erection, testing, and commissioning of 2x25KV feeder line along the track with 25KV OHE modification works to meet 3000 mt loading target for UP and DN line of Garwa Road- Mahadiya section of Dhanbad Division under EC Railway.

The cost of work is Rs 180,00,96,810.08 including applicable taxes, the company said.

The railway PSU's order book is dominated by nomination orders, the brokerage said adding that a lot of opportunities are still in the planning stage and the stock valuation (EPC business) at 62 times H1FY27 EPS is making it apprehensive about the scope of stock price appreciation from the prevailing market price.