JSPL wins order worth Rs. 665 crore from RVNL

Delhi-based steel and power company, Jindal Steel and Power Limited, informed the stock exchanges in a press release that the company has won a contract worth Rs. 665. crore, on Thursday.

Jindal Steel and Power Limited (JSPL), country’s only private manufacturer of rails, secured an order from Rail Vikas Nigam Limited (RVNL). The contract is to provide 89,042 tonnes of UIC 60 kg IRS T-12 880 grade 13-meter rails for projects to be executed in the long-term. The order which is valued at approximately Rs. 665 crore will cater to the requirement of products from Raigarh facility.

The new order comes on the back of execution of Rs. 568 crore order for the supply of rails to Indian Railways in June last year. In this order, JSPL had supplied one lakh tonnes of rails to railways which were completed in April 2019, four months ahead of the deadline.

JSPL is one of the dominant players in the industry having the capacity to supply 50,000 MT rail per month. The company is also the first and only manufacturer of Head Hardened Rails.

On Thursday, at 2:47 pm, the stock traded at a price of Rs. 163.60 per share, down by 3.85 per cent on BSE.