RVNL’s (NS:RAIV) stock saw a notable uptick on Tuesday morning, rising over 2% to reach an intraday peak of ₹626. This increase follows the company’s recent announcement of securing a substantial ₹739 crore contract from the Himachal Pradesh State Electricity Board.
The contract involves the “development of distribution infrastructure in the central zone of Himachal Pradesh” under the Revamped Reforms-based and Results-linked Distribution Sector Scheme. Scheduled for completion within 24 months, this significant order has bolstered RVNL’s stock performance.
The stock had been under pressure following a lackluster budget announcement affecting railway sector investors. However, the recent order has contributed to a remarkable recovery, with RVNL shares up over 230% year-to-date. The company will also report its earnings for the quarter ending June on August 8. Meanwhile, peer Titagarh Rail Systems is expected to release its earnings later today.
