Shares of Rail Vikas Nigam Ltd. gained the most in four weeks after winning multiple orders from NHAI and the Ministry of Railways.
The consortium of Tracks & Towers Infratech and Rail Vikas Nigam received the letter of award from NHAI for the construction of a six-lane greenfield Varanasi-Ranchi-Kolkata highway for Rs 1,271.99 crore.
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The company also received a letter of award from NHAI for the construction of a six-lane elevated Kona Expressway for Rs 720.67 crore and another letter of award from the Ministry of Railways for the manufacturing and maintenance of 120 Vande Bharat trainsets at a cost of Rs 120 crore per trainset.
Shares of the company jumped 7.58% to Rs 73.8 apiece as of 11:15 a.m. on Monday, compared to a 0.14% decline in the benchmark Nifty 50. The stocks advanced as much as 8.67% intraday, the most in over four weeks since March 21.
The total traded volume so far in the day stood at 3.6 times its 30-day average. The relative strength index was 66.4.
Two analysts tracking the company maintain a 'buy' rating on the stock, according to Bloomberg.
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