Rail Vikas Nigam Limited (RVNL) shares jumped 3.26 per cent on Monday, reaching a new high of Rs 647 per share.
The company received a Letter of Acceptance (LoA) for a project of Rs 132.6 crore from Central Railway for OHE modification work in Nagpur division, which led to an increase in share price. The order will be executed during the following 24 months.
In an exchange filing on Friday, the company stated, “It is hereby informed that Rail Vikas Nigam Limited has received Letter of Acceptance from Central Railway for “OHE modification work for Up-gradation of existing 1 x 25 kV Electric Traction System to 2 x 25 kV AT Feeding System in Wardha-Ballarshah Section in Nagpur division of Central Railway to meet 3000 MT loading target.”
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