New Delhi: The share price of Rail Vikas Nigam Limited (RVNL) has been bouncing back after recording a fall during the recent stock market correction. The Railway PSU stock which jumped to the level of Rs 630 per share in July 2024 fell to Rs 415 in mid-November. However, with the domestic indices making a comeback, the multibagger has been rising.
Rail Vikas Nigam Limited has received several orders in the recent months. The latest is the approval letter from Maharashtra Metro Rail Corporation Limited for the construction of 10 elevated metro stations under the second phase of Nagpur Metro Rail Project (NMRP).
The company has given this information in its exchange filing. There has been a continuous rise in the shares of RVNL for the past few days. Yesterday, RVNL shares closed at Rs 472.50 with a rise of 0.55 percent. In the last one month, this stock has increased by more than 13 percent. RVNL shares will rise further in the coming days.
Speaking to Money9, Sugandha Sachdeva, the founder of SS WealthStreet, said excellent movement has been seen in the Railway stocks. She advised the shareholders to hold the RVNL stock and interested investors can also opt to purchase the shares. While predicting the counter to rise, the Sebi registered Research Analyst said that RVNL share price can appreciate up to Rs 580. She advised the existing stakeholders to maintain the Stop Loss at Rs 410. The stock can hit the target of Rs 580 in 2 to 3 months.
RVNL projects
The company in its regulatory filing informed that it has secured a contract worth Rs 270 crore, including GST. The project includes construction of seven elevated metro stations in Reach 3A—Hingna Mount View, Rajiv Nagar, Wanadongri, APMC, Raipur, Hingna Bus Station, and Hingna—along with three elevated stations in Reach 4A: Pardi, Kapsi Khurd, and Transport Nagar.
In December first week, RVNL received a project for the upgradation work of the electric traction system from 1X25 to 2 X 25 KV AT feeding system in Gomoh – Patratu Section of Dhanbad Division of East Central Railway.
In November 2024, Rail Vikas Nigam informed the exchanges receiving the Letter of Acceptance (LoA) from the Eastern Railway for a project worth Rs 837 crore. The project was for “Earthwork in cutting and filling, blanketing, construction of minor bridges, major bridges, RUB, ROB, retaining wall, level crossing, side drain, catch water drain, P.way work and other ancillary works between Kalipahari and Pradhankhunta.
(Disclaimer: This article is only meant to provide information. News9 does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.)
Stock Market expert Sugandha Sachdeva predicted RVNL share price to rise up to Rs 580 in the next 2 to 3 months. RVNL has received several projects recently and has a good order book. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
