RVNL shares in news today on Rs 1,098-crore order win from Himachal Pradesh govt
RVNL share price: In the previous session, the stock closed 1.89% higher at Rs 169.40 on BSE.
- Oct 3, 2023,
- Updated Oct 3, 2023 9:26 AM IST
Shares of Rail Vikas Nigam Ltd (RVNL) are in news today after the state-owned firm won an order worth Rs 1,098 crore from the Himachal Pradesh State Electricity Board. The order is to be executed within 24 months. In the previous session, the stock closed 1.89% higher at Rs 169.40 on BSE. Total 16.55 lakh shares of the firm changed hands amounting to a turnover of Rs 27.94 crore. Market cap of RVNL rose to Rs 35,320 crore on BSE. RVNL shares have a one-year beta of 1.1, indicating high volatility during the period.
The company said it emerged as the lowest bidder for the development of distribution infrastructure at South Zone of Himachal Pradesh under the Revamped Reforms based and Results-linked, Distribution Sector Scheme (loss reduction works). The project worth Rs 1,098 crore will be executed within 24 months.
In terms of technicals, the relative strength index (RSI) of RVNL stands at 60.8, signaling it's trading neither in the overbought nor in the oversold zone. Rail Vikas Nigam stock stands higher than the 5 day, 10 day, 20 day, 50 day, 100 day and 200 day moving averages.
RVNL reported a 15% year-on-year rise in its consolidated net profit to Rs 343 crore in the June quarter from Rs 297.6 crore in the corresponding quarter of the last fiscal. Revenue from operations surged 20% year-on-year to Rs 5853.2 crore in Q1 from Rs 4,640.7 crore during Q1FY23.
About the company
RVNL is an executing arm of Indian Railways and works for and on behalf of the ministry for projects assigned to it for execution. It works on a turnkey basis and undertakes the full cycle of project development from conceptualisation to commissioning including stages of design, preparation of estimates, calling and award of contracts, project and contract management.
Shares of Rail Vikas Nigam Ltd (RVNL) are in news today after the state-owned firm won an order worth Rs 1,098 crore from the Himachal Pradesh State Electricity Board. The order is to be executed within 24 months. In the previous session, the stock closed 1.89% higher at Rs 169.40 on BSE. Total 16.55 lakh shares of the firm changed hands amounting to a turnover of Rs 27.94 crore. Market cap of RVNL rose to Rs 35,320 crore on BSE. RVNL shares have a one-year beta of 1.1, indicating high volatility during the period.
The company said it emerged as the lowest bidder for the development of distribution infrastructure at South Zone of Himachal Pradesh under the Revamped Reforms based and Results-linked, Distribution Sector Scheme (loss reduction works). The project worth Rs 1,098 crore will be executed within 24 months.
In terms of technicals, the relative strength index (RSI) of RVNL stands at 60.8, signaling it's trading neither in the overbought nor in the oversold zone. Rail Vikas Nigam stock stands higher than the 5 day, 10 day, 20 day, 50 day, 100 day and 200 day moving averages.
RVNL reported a 15% year-on-year rise in its consolidated net profit to Rs 343 crore in the June quarter from Rs 297.6 crore in the corresponding quarter of the last fiscal. Revenue from operations surged 20% year-on-year to Rs 5853.2 crore in Q1 from Rs 4,640.7 crore during Q1FY23.
About the company
RVNL is an executing arm of Indian Railways and works for and on behalf of the ministry for projects assigned to it for execution. It works on a turnkey basis and undertakes the full cycle of project development from conceptualisation to commissioning including stages of design, preparation of estimates, calling and award of contracts, project and contract management.