Multibagger PSU stock in focus today on record date for interim dividend

Shares of Rail Vikas Nigam Ltd (RVNL) are in focus today as the state-owned firm has fixed April 6 for record date of interim dividend. RVNL announced a dividend of Re 1.77 per equity share of the face value of Rs 10 each — amounting to 17.7 per cent dividend. RVNL shares will trade ex-dividend today (April 6). The arm of Indian Railways said the interim dividend will be paid on or before April 22. 

In the current trading session, RVNL stock rose 1.53% to Rs 74.56 today. Total 3.87 lakh shares of the firm changed hands amounting to a turnover of Rs 2.86 crore. Market cap of the firm rose to Rs 15,533 crore on BSE. RVNL shares have gained 9.22% this year and risen 117 per cent in a year. In a month, the stock has risen 14%. The stock hit a 52-week low of Rs 29 on February 24, 2022 and a 52 week high of Rs 84.15 on November 29, 2023.  

Meanwhile, RVNL has emerged as the lowest bidder (L1) for a project worth Rs 121 crore from North Central Railway. The company will make provision of E1-based automatic signaling with continuous track circuiting and will do other associated works including suitable indoor alteration in the electronic interlocking/RRI/PI stations enroute in the Jhansi-Gwalior section of the Jhansi division of North Central Railway. 

In terms of technicals, the relative strength index (RSI) of RVNL stands at 69.8, signaling it's neither trading in the overbought zone nor in the oversold zone.  RVNL stock has a one-year beta of 0.9, indicating low volatility during the period. Rail Vikas Nigam shares are trading higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.  

In the December quarter of last fiscal, net profit climbed 30.51% to Rs 382.42 crore against Rs 293.01 crore during the previous quarter ended December 2021. Sales stood flat at Rs 5012.09 crore in Q3 against Rs 5049.24 crore during the quarter ended December 2021.   

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.   

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