• Source:JND
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RVNL Share Price: Rail Vikas Nigam Ltd sahre price soared over 10% in early hours on Thursday i.e. on January 16 after the company announced that it hsa secured a significant order from government telecom firm Bharat Sanchar Nigam Ltd (BSNL).

At around 11:41 am, the shares of RVNL were trading at Rs 414.25 per share, up 11.39% against the previous day's closing price On NSE. In the morning, the company shares opened higher at Rs 391.85 and surged to an intraday high of Rs 415.30 in till the above mentioned time.

RVNL received the order from BSNL

RVNL on January 15 end reported receiving a letter of approval (LOA) from BSNL for listing on the stock exchange. The mandate includes the development, development, implementation and maintenance of the Middle Mile network under the BharatNet project.

The project construction phase is expected to be completed within three years. In addition, the contract includes a 10-year maintenance agreement, which sets compensation at 5.5% of capital costs for the first five years, rising to 6.5% for the next five years. The total contract value is Rs 3,622.14 crore.

Also Read: Railway Stock: RVNL Share Price Surges Over 10% After Company Secures Big Order From This Government Company

The rally brought relief to investors

The rally in RVNL shares has brought some relief to investors as the multibagger stock has dropped more than 34% in the last six months and more than 13% in the last one month.

Other Railway Stocks Today

IRCTC- Tha shares of IRCTC were trading in green in early hours. The stock was up over a per cent against previous session's closing price. 

Titagarh Railsystem Share Price- The shares of Titagarh Railsystem were trading in over 4% gain in morning trade today. 

IRFC Share Price- The shares of Indian Railway Finance Corp were trading with a gain of over 5%. 

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