Shares of Rail Vikas Nigam Limited (RVNL) today hit an all-time high amid a rally in the broader markets. RVNL stock rose 9.58% to Rs 69.8 against previous close of Rs 63.70 on BSE. Rail Vikas Nigam stock has gained 20% in last two sessions. It closed at Rs 57.95 on 22 November. The stock today opened 2.04% higher at Rs 65.
RVNL stock is trading above 5 day, 20 day, 50 day, 100 day and 200 day moving averages. A total of 41.09 lakh shares of the firm changed hands for a turnover of Rs 27.77 crore. The market cap of the firm rose to Rs 14,053 crore on BSE.
RVNL shares have gained 94.82 per cent this year and 87.79 per cent in one year. The stock has gained 82.23 per cent in a month. The rally in the stock in the last one month can be attributed to good inflow of orders for Indian Railways arm.
On 11 November, RVNL said it has been selected as the preferred bidder for the development of the UTF (Uthuru Thila Phalhu-Islands) Harbor International project in the Maldives. The project involves a budget of approximately Rs 1,544.60 crore.
On 4 November, RVNL said it had been awarded a contract worth Rs 137.55 crore to increase the speed capacity of the Dhanbad division to 160 kmph.
On October 20, RVNL said it had been awarded the contract for AMC area package 2 and 3 for the development of Kharicut canal (between Naroda crematorium and Vinjol Vehla). The cost of the contract was Rs 484 crore.
On 29 September, the company said it had been awarded a contract by the National Highways Authority of India (NHAI) to construct a four-lane highway from Samarlakota to Achampeta Junction (for a distance of 12.25 km) as part of Bharatmala. Kakinada port of the scheme for NH-16 connectivity in the state of Andhra Pradesh.
In the September quarter of this financial year, the net profit increased by 36.52% to Rs 381.22 crore in the quarter ended September 2022 from Rs 279.24 crore during the previous quarter ended September 2021. Previous quarter ending September 2021.
RVNL is an executive arm of the Indian Railways and works for and on behalf of the Ministry for the projects assigned for execution. It works on a turnkey basis and undertakes the complete cycle of project development from concept to commissioning including design phases, preparation of estimates, calling and contracts, project and contract management.
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