Last Friday, RITES informed the exchanges that it has won a major railway electrification order for the Limding-Badarpur line and it has also received revised estimates for the order from the Northeast Frontier Railway.
The revised total cost for the order will now be ₹531.7 crore, excluding GST, which is significantly higher than the previous value of ₹288.44 crore, excluding GST. The value is inclusive of Project Management Consultancy (PMC) fee.
Rail Vikas Nigam too announced on Friday that it has received the Letter of Acceptance (LoA) from the Eastern Railway for “Earthwork in cutting and filling, blanketing, construction of minor bridges, major bridges, RUB, ROB, retaining wall, level crossing, side drain, catch water drain, P.way work and other ancillary works between Kalipahari and Pradhankhunta.
The order has to be executed within the next 16 months and is valued at over ₹837 crore, RVNL said in its exchange filing.
This order, awarded to RVNL, is in consortium with SCPL, in which, RVNL is the majority shareholder with a 74% stake.
Shares of RITES are trading 10.2% higher at ₹303.4. The stock has recovered 17% from its recent low of ₹265.6, which it had made earlier this month.
Shares of RVNL are also trading 7.2% higher on Monday at ₹450.35. The stock has also recovered from its recent low of ₹408, which it had made on October 28.
