Shares of Rail Vikas Nigam Ltd. (RVNL) gained up to 3% in Friday's trading session after the state-run company announced that it has won a ₹495 crore order from National Thermal Power Corporation (NTPC).
The multibagger railway public sector undertaking (PSU) stock rose 3.15% to hit a day's high of ₹382 as against its previous closing of ₹370.3 on the NSE.
RVNL shares have gained 106% so far this year and has risen nearly 200% in the last one year.
The company has been on roll when it comes to securing work orders.
The NTPC order pertains to carrying out specific tasks related to construction and installation work for the barrage complex and part of the head race tunnel (HRT) at the Rammam Hydro Electric Project in West Bengal. The order will be executed in 66 months..
Earlier on Thursday (June 6), RVNL said that it has secured orders worth about ₹
The Eastern Railway order includes the construction of Sitarampur bye pass line under Asansol division.
RVNL is an executing arm of Indian Railways and works for and on behalf of the ministry for projects assigned to it for execution.
Market cap of RVNL rose to ₹78,052 crore on the BSE.
The stock has a one-year beta of 0.6, indicating very low volatility during the same period.
Technically, the 14-day relative strength index (RSI) of RVNL stands at 62.1, signaling it's trading neither in the overbought nor in the oversold zone.
Rail Vikas Nigam shares are trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.
Shares of RVNL were trading 1.71% higher at ₹374.95. The stock has been among the best performers of financial year 2024, but has corrected 12% from its recent peak of ₹425.
The multibagger railway public sector undertaking (PSU) stock rose 3.15% to hit a day's high of ₹382 as against its previous closing of ₹370.3 on the NSE.
RVNL shares have gained 106% so far this year and has risen nearly 200% in the last one year.
The company has been on roll when it comes to securing work orders.
The NTPC order pertains to carrying out specific tasks related to construction and installation work for the barrage complex and part of the head race tunnel (HRT) at the Rammam Hydro Electric Project in West Bengal. The order will be executed in 66 months..
Earlier on Thursday (June 6), RVNL said that it has secured orders worth about ₹
515 from Dakshin Haryana Bijli Vitran Nigam Limited and Eastern Railway.
The Eastern Railway order includes the construction of Sitarampur bye pass line under Asansol division.
RVNL is an executing arm of Indian Railways and works for and on behalf of the ministry for projects assigned to it for execution.
Market cap of RVNL rose to ₹78,052 crore on the BSE.
The stock has a one-year beta of 0.6, indicating very low volatility during the same period.
Technically, the 14-day relative strength index (RSI) of RVNL stands at 62.1, signaling it's trading neither in the overbought nor in the oversold zone.
Rail Vikas Nigam shares are trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.
Shares of RVNL were trading 1.71% higher at ₹374.95. The stock has been among the best performers of financial year 2024, but has corrected 12% from its recent peak of ₹425.
First Published: Jun 7, 2024 12:01 PM IST
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