Multibagger railway stock RVNL hits record high after winning new order from Central Railway

From India Today: 2024-07-15 00:31:01

Shares of Rail Vikas Nigam Ltd (RVNL) surged to a record high after receiving a contract worth Rs 132.59 crore from Central Railway. The stock jumped 151% in 2024. RVNL has been signing new agreements and securing orders, reflecting positive prospects for railway infrastructure. Investors are advised to hold or buy on dips, according to analysts.
RVNL shares traded at an all-time high of Rs 647, with a market cap of Rs 1.31 lakh crore. The stock has high volatility, evident from a one-year beta of 1.5. Technical indicators show RVNL in the overbought zone, trading above various moving averages. The railway PSU works on turnkey projects for Indian Railways under the Ministry.



Read more at India Today: Multibagger railway stock hits record high for third session on fresh order win