RVNL share price: The shares of Rail Vikas Nigam Ltd (RVNL) rose 15 per cent today (May 21). This comes as the company bagged an order worth ₹148 crore from South Eastern Railway for upgradation of an electric traction system for Kharagpur division. Shares of RVNL surged to hit a fresh all-time high of ₹345.90 on the National Stock Exchange (NSE).
RVNL share price: The stock market index on a display screen at the Bombay Stock Exchange (BSE) building in Mumbai. (PTI)
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The PSU said in a regulatory filing, “Rail Vikas Nigam Limited has received a Letter of Acceptance (LoA) from South Eastern Railway' for design, supply, erection, testing and commissioning for upgradation of electric traction system from 1x25 KV to 2x25 KV traction system for Kharagpur - Bhadrak section of Kharagpur division of South Eastern Railway to meet 3000 MT loading Target.”
RVNL reported net profit growth of 33.2 per cent on-year to ₹478.6 crore in the quarter ended March 2024. The PSU's revenue from operations during the quarter grew 17.4 per cent YoY to ₹6,714 crore and its EBITDA rose 21.8 percent YoY to ₹456.4 crore, while EBITDA margin came in at 6.8 percent.
In 2024, the stock is already up more than 85 per cent, outpacing Nifty's 3.6 percent return while in the last one year, the stock has delivered around 192 per cent returns in contrast to Nifty's return of 23 per cent.
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In 2024, the stock is already up more than 85 per cent, outpacing Nifty's 3.6 percent return while in the last one year, the stock has delivered around 192 per cent returns in contrast to Nifty's return of 23 per cent.
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Home/Business/RVNL share price rises 15% to record high, stock surges nearly 200% in 1 year: Should you buy?
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