RVNL shares rose as much as 2% intraday, touching a high of Rs 216.45, after the company bagged a fresh Rs 903 crore order from SJVN Thermal.

RVNL has received a Letter of Award from SJVN Thermal, a wholly owned arm of power producer SJVN.

The contract covers construction of a permanent railway siding, along with an aerial track connection running from the plant boundary to two nearby locations, Chausa and Pawani Kamarpur, in Bihar’s Buxar district.

This infrastructure is meant to support the 1,320 MW Buxar Thermal Power Project that SJVN Thermal is building under its Phase III expansion.

RVNL will need to complete the work within 36 months. The order carries a value of Rs 903 crore, which adds to a run of contract wins the company has picked up recently.

Just last week, RVNL emerged as the lowest bidder for a separate project worth Rs 404.88 crore from East Coast Railway, according to an exchange filing dated September 3.

Together, these wins point to steady order inflow for the company across both railway and power sector clients. On the earnings side, RVNL’s June quarter numbers also held up well.

Consolidated net profit rose nearly 18.5% year on year to Rs 159.36 crore, while revenue from operations grew over 10.5% to Rs 4,321.23 crore.

The Government of India continues to hold a majority stake in the company, at close to 73%.

RVNL is a public sector enterprise focused on building rail infrastructure projects across the country, ranging from new lines and electrification to bridges and industrial siding work like this latest contract.

As of 11:04 am on Monday, the stock was trading at Rs 213.62 on the NSE, up 0.53% for the day.

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