The stock price of Indian state-owned company RVNL soared by 15.2% in the intraday session on Monday following news of its MoU with Delhi Metro Rail Corporation Limited (DMRC) for upcoming projects in India and abroad. This marks RVNL's impressive gains, up by 210% since the beginning of the year. With increasing demand for non-AC coaches, the government's plan to allocate Rs 2.55 trillion for railway infrastructure development is likely to benefit many railway stocks, including RVNL. However, given the high risk involved in financial market and cryptocurrency trading, investors must exercise caution.
RVNL, a railway PSU, reached an all-time high of Rs 399.9 on the NSE after securing the lowest bid for construction of six elevated metro stations in Nagpur. The company's revenue for this quarter rose by 17.4%, with an increase in EBITDA and profit after tax. RVNL's shares have given a multibagger return of over 1,350% in five years and have gained over 250% in the past year. Business updates, stock market news, and personal finance coverage can be found on Zeebiz.com.
The stock of the Railway PSU, RVNL, has surged to an all-time high of Rs 359.00, following a second day of rally on the back of an order from Southern Eastern Railway. The stock has seen a remarkable surge of 200% in the last year and an astounding 1,265% in a year. Get the latest updates on the stock market, taxes, and personal finance through our coverage on Zee Business. Stay up-to-date with breaking business news on our Twitter and Facebook pages and subscribe to our YouTube channel.
Rail Vikas Nigam Ltd, a joint venture between KRDCL and RVNL, saw a significant increase in their share price after receiving a Letter of Acceptance (LOA) from Southern Railway for a redevelopment project worth Rs 123 crore. In a separate development, RVNL signed a MoU with REC Limited for mutual benefits. The stock has given a positive return of 150% in the last 12 months, outperforming the Nifty 50 index. Stay updated with all the latest news in business, politics, tech, sports, and auto on Zeebiz.com.