RVNL shares jump 3% after securing Rs 221 crore Railway contract

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In a regulatory filing, RVNL announced that it has secured a Letter of Acceptance (LoA) for a signalling and infrastructure upgrade project in the Bilaspur Division of South East Central Railway.

The project involves the replacement of conventional Panel Interlocking systems with advanced Electronic Interlocking technology across multiple stations, including BSPR, KLPG, ABKP, MZH, HRV, PRDL, KTMA, BJRI, KJZ, MDGR, CHRM, GTK, KLTR, PLAU, and KBS. The scope of work also includes installation of indoor and outdoor signalling equipment, construction of OFC huts, development and electrification of S&T service buildings, and associated cabling works in adjoining railway sections.

The contract has been awarded by South East Central Railway, a domestic entity, under the Engineering, Procurement, and Construction (EPC) model. The project is scheduled to be executed within 730 days.

The total contract value stands at Rs 221.33 crore. RVNL clarified that neither the promoter group nor any group companies have any interest in the awarding entity, and the contract does not fall under related-party transactions.
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The latest order win further strengthens RVNL’s robust order book and reinforces its position as a key player in India’s railway infrastructure modernization drive. Investors cheered the development, driving the stock higher during Tuesday’s trading session.

Despite Tuesday’s rally, RVNL’s stock has been under significant selling pressure in recent months. The railway PSU has corrected nearly 25% over the past month, while investors have seen the stock decline by around 47% over the last one year, highlighting the sharp erosion in market value from its peak levels.

The company currently commands a market capitalization of ₹47,586 crore. RVNL’s shares have witnessed considerable volatility over the past year, with the stock hitting a 52-week high of ₹442.80 and a 52-week low of ₹227.01.

From a valuation perspective, the stock trades at a Price-to-Earnings (P/E) ratio of 54.4 and a Price-to-Book (P/B) ratio of 4.85, indicating that investors continue to assign a premium valuation despite the recent correction.

Also read: Wipro’s Rs 15,000-crore buyback opens June 11; entitlement ratio and key details announced

On the technical front, indicators suggest the stock may be approaching a critical zone. The 14-day Relative Strength Index (RSI) stands at 19, well below the 20-mark that is typically considered deeply oversold territory. Such readings often signal that selling may have become excessive and could pave the way for a technical rebound if buying interest returns.

However, caution remains warranted. RVNL continues to exhibit a weak trend structure, with the stock currently trading below all eight of its key Simple Moving Averages (SMAs), a sign that bears still maintain control over the broader price trend.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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