Shares of Rail Vikas Nigam Limited (RVNL) are on a roll and have delivered 100% return in the last 3 months
RVNL, a public sector undertaking, conducts railway construction projects with a particular focus on the golden quadrilateral. It began its operation in 2005 and was granted Miniratna status in September 2013
Shares of RVNL ended 0.41% lower at Rs 72.15 on BSE on January 9, 2023. The market cap of the firm fell to Rs 15,043.42 crore
Recently, RVNL received an appointment letter as the project implementation agency for the UTF Harbor project in Maldives
This strategic project of the Indian government in Maldives costs Rs 1,544.60 crore
According to CARE Ratings, RVNL procured about Rs 4,000 crore of projects on a competitive bidding basis since November 2021
According to Sumeet Bagadia, Executive Director at Choice Broking, the upward momentum is likely to continue in RVNL, as the entire railway pack appears to be quite strong
"We recommend holding current positions for targets of Rs 92 and keeping a stop loss in the Rs 67-70 price area," said Bagadia
The stock mentioned in the story is for information purpose only. Investors or market participants should consult their financial advisors before taking any position
Produced by: Tanya Aneja
Designed by: Pragati