Railway Stocks
RVNL lands Rs. 2,977 crore mega deal, Texmaco bags fresh orders—railway stocks take off
Mumbai/IBNS: Shares of Rail Vikas Nigam Limited (RVNL) and Texmaco Rail & Engineering Ltd. gained up to 4 percent on Monday after the two companies announced significant order wins, according to media reports.
RVNL, Texmaco Stocks Rise
RVNL shares rose nearly 2 percent to touch an intraday high of Rs. 250.90 during early trade.
Texmaco Rail & Engineering Ltd. opened at Rs. 112.04 and climbed to Rs. 114.90 per share in early trading. The stock has gained around 8 percent over the past week.
Texmaco Secures Orders Worth Over Rs. 264 Crore
Texmaco Rail & Engineering has secured an order worth Rs. 253.3 crore from JSW (South) Rail Logistics for the manufacture and supply of railway rakes and wagons.
The company has also bagged a separate contract worth Rs. 11.5 crore from Odisha Power Transmission Corporation Ltd. for the construction of a second-circuit SC line on a DC tower on a turnkey basis, according to NDTV Profit.
RVNL Bags Rs. 2,977 Crore Contract
RVNL has secured a major contract worth Rs. 2,977 crore for setting up buffer stockpiles and a blending yard with a handling capacity of 10 million tonnes per annum (MTPA) at Visakhapatnam.
The order is expected to strengthen the company's order book and reinforce its position in the infrastructure and railway-linked sectors.
Investors Cheer Fresh Order Wins
The fresh contracts have boosted investor confidence in both companies, with market participants betting on stronger revenue visibility and execution prospects in the coming quarters.
About the Railway Stocks
Railway and infrastructure stocks have remained in focus amid the government's continued emphasis on transportation, logistics and infrastructure development.
Companies such as RVNL and Texmaco have benefited from rising capital expenditure and a steady flow of project awards across rail, logistics and allied sectors.
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