This railway stock became a rocket, hit record highs today, doubled its amount in 5 months.
Shares of RVNL rose more than five percent today. In the morning, this railway stock opened with a boom and reached a record high. Recently RVNL got a big project in Maharashtra.
New Delhi. Stock markets hit record highs today buoyed by exit poll results. As the market opened, Sensex was trading with a bumper gain of 2600 points and Nifty 600 points. Let us tell you that the exit polls predicted a landslide victory for the BJP. Shares of Rail Vikas Nigam Limited (RVNL) also hit new highs today. As the company’s shares opened today, June 3, they rose more than five percent to touch a high of Rs 425. At 10:27 am, shares of RVNL were trading at Rs 398.50, up 4.40 per cent.
Shares of RVNL have given investors a return of 240% in the last one year. A year ago this railway stock was priced at Rs 116.95. This multi-bagger stock has gained 117% so far in the year 2024. Shares of Rail Vikas Nigam Limited recorded slight weakness in the last trading session i.e. Friday and fell by ₹9 to close at Rs.374.
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The stock looks strong on the chart.
Shares of Rail Vikas Nigam Limited have supported on the weekly trend line. From Rs 255 it has gone up to Rs 400 in few days. The stock can now be seen buying at prices above ₹ 400. The company has a market cap of ₹ 82,671.05 crore with a 72.84% stake in the company and domestic institutional investors hold 6.18% stake in RVLN while foreign institutional investors hold 2.32% stake.
The company will build 6 elevated metro stations.
Rail Vikas Nigam Limited (RVNL) got a project from Maharashtra Metro Rail Corporation Limited (Nagpur Metro) few days ago. In this project, Rail Vikas Nigam has to construct 6 elevated metro stations. These stations include Cantonment, Kempty Police Station, Kempty Municipal Council, Dragon Palace, Golf Club and Kinahan River Metro Station. The project is worth Rs 187.34 crore and is to be completed within 30 months.
(Disclaimer: The information given here is based on share performance. As investing in stock market is subject to market risk, please consult a certified investment advisor before investing. News 18 Hindi becomes responsible for any damages you incur.)
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First Publication: June 3, 2024, 11:11 IST
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