Benzinga - RVNL's (NS:RAIV) share price was upbeat on Friday morning looking to extend its gaining streak into the third straight session.
What Happened: On Thursday evening, Patel Engineering (NS:PENG) announced a strategic partnership with RVNL through a memorandum of understanding (MoU). The collaboration aims to jointly execute hydro and other infrastructure projects in India and abroad.
The partnership is set to work on hydro and other infrastructure projects both domestically and internationally. The agreement combines Patel Engineering’s extensive infrastructure experience with RVNL’s expertise in rail and transport infrastructure.
Earlier this week, RVNL announced bagging a ₹111 Cr order from Southern Railways. The order is for implementing a multi-section digital axle counter alongside the existing DCTC at stations to serve as dual detection, and for replacing the remaining AFTCs in the MAS-GDR and MSB-TBM automatic block signalling sections of Chennai Division, Southern Railway.
Earlier in August, RVNL was included in the FTSE large-cap index during the index provider's Global Equity Index Series (Asia Pacific Ex-Japan Ex-China) September 2024 semi-annual review.
Price Action: RVNL’s share price was share price was up 1.18% to trade at ₹586.65 as the markets opened on Friday.
Read Next: NTPC (NS:NTPC) Commences Commercial Operation Of 160 MW Capacity From Bhainsara Solar PV Project