RVNL stock surges 110% in 2024, analysts predict potential for further upside
From Business Today: 2024-05-27 01:13:09
Shares of Rail Vikas Nigam Ltd (RVNL) hit a record high, surging 7.92% to Rs 399.70. The stock is up 109.83% YTD. RVNL won a bid for constructing six metro stations in Nagpur at Rs 187.34 crore. Analysts predict support at Rs 345 and resistance at Rs 400, with potential for further upside.
RVNL is an executing arm of Indian Railways, working on turnkey projects. Government owns 72.84% stake in the firm. Analysts suggest a trading range of Rs 325-415 for RVNL stock in the near term. Strong resistance seen at Rs 400, with potential for further upside upon breaching this level.
Read more at Business Today: RVNL shares rally 110% in 2024 so far; here’s what analysts say