K&R Rail TechnologyThe share price of was positive on Monday, along with several other railroad stocks such as RVNL, IRCON And IRFC.
What happened: The company received an order on Monday afternoon from Fomento Resources. This project at Kaley railway station in Hubballi division of South Western Railway will be implemented in two phases. Phase I will focus on design, consultancy and obtaining necessary railway approvals for provision of siding facilities.
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In Phase II, the project is executed on Engineering, Procurement and Construction (EPC) basis. In this phase, the railway sidings are actually constructed according to the designs and plans approved in Phase I.
The order is worth around 110 crore. The order is expected to be completed in 18 months. In early July, the company had received an order worth around 45 crore from The KCP LimitedThe work order includes construction of railway sidings on EPC basis to facilitate rail connectivity.
Price promotion: K&R Rail TechnologyThe share price rose 5.47% and was trading at ₹490 on Monday afternoon.
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