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RVNL shares slide despite securing new order; fall over 7% post Budget
RVNL, which comes under the Ministry of Railways, has bagged an order worth ₹191.53 crore from South Eastern Railway.
RVNL, which comes under the Ministry of Railways, has bagged an order worth ₹191.53 crore from South Eastern Railway.
The mcap of the PSU railway stock crossed ₹1 lakh crore mark for the first time today after the shares surged 18% intraday
The share price of RVNL rose 8% to hit a fresh record high of ₹399.70 today after it bagged a new order worth ₹187 crore from Maharashtra Metro Rail Corp.
In two years and three years, the counter has surged 963% and 1,028%, respectively.
Shares of RVNL, the construction arm of the Ministry of Railways, gained as much as 11.86% to hit an intraday high of ₹281.45 on the BSE amid strong volume.
The sell-off in the railway stocks was triggered after FM Sitharaman earmarked a capex of ₹2.55 lakh crore for the Indian Railways, which is lower than industry expectations of ₹3 lakh crore.
The largecap stock, which made its share market debut on April 11, 2019, has risen more than 1,500% in the last five years.
The Rail Vikas Nigam stock has surged over 37% in a week and nearly 60% in the past month
The PSU stock has delivered nearly 300% returns in the last ten months, hitting a new all-time high of ₹114.62 intraday from its 52-week low of ₹29 touched on June 21, 2022.
The railway-related stock trades 156% higher than its 52-week low of ₹29 touched on June 21, 2022.