RVNL shares rise over 4% on Rs 1,098-crore order win; check details
RVNL shares gained 4.25% intraday to Rs 176.60 today. Market cap of RVNL rose to Rs 36,237 crore on BSE.
- Oct 3, 2023,
- Updated Oct 3, 2023 1:09 PM IST
Shares of Rail Vikas Nigam Ltd (RVNL) rose over 4% 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. The multibagger railway stock gained 4.25% intraday to Rs 176.60 on BSE today. Total 11.17 lakh shares of RVNL changed hands amounting to a turnover of Rs 19.40 crore. Market cap of RVNL rose to Rs 36,237 crore on BSE. RVNL shares have a one-year beta of 1.1, indicating high volatility during the period.
The company said it has 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 current order is part of a string of orders the company won in September.
On September 4, the stock surged over 17% after RVNL won a Rs 322 crore order from Madhya Gujarat Vij. The contract related to the comprehensive development of distribution infrastructure in Vadodara and was slated for completion within a span of 31 months, RVNL said.
On September 12, the company said that it has emerged as the lowest (L1) bidder for an order from the Western Railway.
The order was related to all civil engineering works and complete track works, including linking of track works in connection with gauge conversion between Nadiad and Petlad of the Vadodara division.
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 logged 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) rose over 4% 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. The multibagger railway stock gained 4.25% intraday to Rs 176.60 on BSE today. Total 11.17 lakh shares of RVNL changed hands amounting to a turnover of Rs 19.40 crore. Market cap of RVNL rose to Rs 36,237 crore on BSE. RVNL shares have a one-year beta of 1.1, indicating high volatility during the period.
The company said it has 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 current order is part of a string of orders the company won in September.
On September 4, the stock surged over 17% after RVNL won a Rs 322 crore order from Madhya Gujarat Vij. The contract related to the comprehensive development of distribution infrastructure in Vadodara and was slated for completion within a span of 31 months, RVNL said.
On September 12, the company said that it has emerged as the lowest (L1) bidder for an order from the Western Railway.
The order was related to all civil engineering works and complete track works, including linking of track works in connection with gauge conversion between Nadiad and Petlad of the Vadodara division.
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 logged 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.