In November 2024, Rail Vikas Nigam Limited (RVNL) received a letter of acceptance (LoA) from South Central Railway for a construction project worth Rs 294.94 crore. The state-owned RVNL also confirmed receiving a Letter of Acceptance (LoA) from Eastern Railway for an infrastructure project worth Rs 837.67 crore.
Expressing his views on RVNL share price, stock market expert Arun Mantri said the Railway PSU stock is expected to do good in the coming days after the recent dip and consolidation from the past few weeks. RVNL looks attractive for 3-4 months trading perspective, Mantri said. He went on to say that the counter is expected to benefit from the recent positive sentiment.
RVNL share price,Q2 Results 2024-25
RVNL stock closed at Rs 422.25 on November 24, 2024. The Railway PSU stock gained 13 per cent in the last six months and over 150 per cent in the last one year. The stock made its new high of Rs 630 on July 11, 2024.
In its Q2 2024-25 Results, RVNL reported disappointing results for the quarter ended September 30. The PSU posted a 27.26 per cent decline in consolidated net profit to Rs 286.89 crore in July-September quarter as against Rs 394.42 crore posted in the second quarter of 2023-24.
In the second quarter of the current financial year, RVNL’s revenue from operations declined 1.20 per cent YoY to Rs 4,854.95 crore while Profit before tax was recorded at Rs 389.31 crore. It was down 18.82 per cent as against Rs 479.61 crore recorded in July-September 2023 quarter. The tax expenses lowered 0.49 per cent (YoY) to Rs 4,731.52 crore but gained 17.21 per cent QoQ.
RVNL is categorised as Navratna Central Public Sector Enterprises (CPSEs). The PSU is controlled by the Ministry of Railways working for & on behalf of MoR. RVNL is tasked to “mobilise extra budgetary resources through a mix of equity, and debt from banks, financial institutions, multilateral agencies like Asian Development Bank and bilateral agencies for project execution through PPP by formation of project specific SPVs for Port and Hinterland connectivity,” its website mentioned.
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RVNL share news: Stock Market expert Arun Mantri backed Rail Vikas Nigam Limited to gain from the recent positive trends in the domestic market. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
