From Living Media India Ltd.: 2024-07-11 09:29:45

RVNL shares surged 3.19% to Rs 630, hitting an all-time high of Rs 643.95, showing a 61.77% gain in the past month and a multibagger 245.87% return in 2024 so far. The rail PSU secured a Rs 138.45 crore contract from Central Railway for OHE modification work in the Amla-Nagpur Section. RVNL has been gaining new orders and agreements, signaling strong growth in railway infrastructure spending.

With the Budget presentation approaching, RVNL shares have been performing exceptionally well, driven by recent order wins and increased earnings visibility. Experts recommend holding positions and buying on dips for long-term investors. Technically, the stock is showing a strong upward momentum, breaking into new territory with no signs of a slowdown. Analysts suggest setting a higher stop loss to capitalize on the ongoing momentum.

RVNL traded higher than various SMAs and has an RSI of 85.66, indicating overbought conditions. The stock has a P/E ratio of 89.79, P/B value of 16.70, EPS of 7.02, and ROE of 18.60. As the executing arm of Indian Railways, RVNL works on turnkey projects from concept to commissioning. As of March 2024, the government holds a 72.84% stake in the company. Note: Stock market news is for informational purposes; seek advice from a financial advisor before investing.



Read more at Living Media India Ltd.: RVNL shares hit record high, stock zooms 62% in a month; is more steam left in this multibagger?