RVNL secures Rs 160 crore order for railway infrastructure, stock hits all-time high
From Living Media India Ltd.: 2024-07-15 05:34:25
Rail Vikas Nigam Ltd (RVNL) secured a Rs 160.08 crore order from East Coast Railway for Automatic Block Signaling system. The state-owned firm previously emerged as the lowest bidder for the project. RVNL also received a LoA from Central Railway and its shares rose to an all-time high of Rs 647.
RVNL’s stock performance has been strong, with a 245.13% rise in 2024. The focus on railway infrastructure spending ahead of the Budget presentation contributed to the stock’s growth. Analysts suggest holding positions or buying on dips for long-term investors. Meanwhile, consider securing profits by setting stop losses to capitalize on the momentum.
RVNL works as an executing arm of Indian Railways, handling projects from start to finish. The government maintains a 72.84% stake in the PSU. As the company continues to secure new orders and international pacts, its growth prospects remain positive in the rail sector.
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Read more at Living Media India Ltd.: RVNL gets acceptance letter for Rs 160 crore order; stock hits fresh record high