RVNL shares climb 12% on strong volume; up 50% in 2024
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.
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.
The railway stock has risen 133% against its 52-week low of ₹29 touched on June 21, 2022.
The PSU company has secured Chennai Metro Rail project worth ₹1,134 crore and ₹38.97 crore order from Southern Railway.
The state-owned company has bagged a contract worth ₹166.26 crore from Gujarat Metro Rail Corporation.
RVNL has been appointed as project implementation agency for the implementation of the UTF harbour project in Maldives.