On May 27, 2024, RVNL's share price surged to an all-time high of Rs 399.70, as the company emerged as the lowest bidder for a project by Maharashtra Metro Rail Corporation (Nagpur Metro). The project, worth Rs 187.34 crore, is expected to be completed within 30 months. The stock has also gained over 110% year-to-date, making it a top performer in the market. Technical analysis suggests that the stock has strong support at Rs 345 and could encounter resistance at Rs 400.
Rail Vikas Nigam Ltd, a major construction company, is facing scrutiny after it was revealed that they may not have accurate data for a recent potential block deal. This has sparked controversy over the accuracy and reliability of the data sources used by the company. With auditors V K Dhingra & Co. and chairman Pradeep Gaur under fire, investors are advised to exercise caution and consult with professionals before making any decisions.
Shares of state-run company Rail Vikas Nigam Ltd (RVNL) have seen a massive surge of 414% in just one year, climbing from a low of Rs 56.15 to a record high of Rs 288.65. With a current market cap of Rs 59,256 crore, the stock is now strongly overbought on technical charts. Despite this, expert analysts predict that RVNL will continue to rise, with potential targets of Rs 254-282 in the coming days. The company's recent financial report showed a 15% increase in net profit and a marginal rise in revenue. However, readers are advised to consult a qualified financial advisor before making any investment decisions.
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The Railway Vikas Nigam Limited (RVNL) has seen a significant increase in their shares, with a rise of 16.19% in just one day. With this jump, the company's market capitalisation has risen to nearly Rs 59,000 crore. Analysts have pointed to the upcoming Interim Budget 2023-24 as a key contributor to the success of RVNL and other railway PSU stocks. The government's focus on infrastructure development and likely announcement of increased capital expenditure for Indian Railways has led to a bullish outlook on the industry.
The shares of Rail Vikas Nigam Limited (RVNL), a Navratna CPSE under the Ministry of Railways, rose over 5% to hit a 52-week high as the company emerged as the lowest bidder for a power transmission project worth Rs 251 crore in Madhya Pradesh. This marks a 25.02% increase in the stock's returns in the last 6 days and a multibagger return of 195.58% in the last year. Additionally, an MoU was signed between RVNL and REC to finance infrastructure projects worth up to Rs 35,000 crore over the next five years.
The stock of the Railways company, RVNL, has soared to an all-time high of Rs 230.50 on BSE, with a 197% increase in the past year. As of 11:59 am on Monday, the stock was soaring higher by 12.53%, reaching Rs 228.55. This growth surpasses the benchmark Nifty 50's performance, which has only jumped by 2.77% in the past month and 23.22% in one year. Investors should note that RVNL's stock has seen an increase of 24.66% in the past month, 90.92% in the past six months, and 197.01% in the past year.
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.
Rail Vikas Nigam Limited's joint venture firm, KRDCL-RVNL, has been named the lowest bidder for the redevelopment of Varkala Sivagiri Railway Station in Kerala. The stock of RVNL saw a 0.92% increase in trading after the announcement. The project is estimated to cost Rs 123 crore and is expected to be completed in 30 months.