RVNL shares make a U-turn after series of 52-week highs, 11% off peak

RVNL share price today: Rail Vikas Nigam Ltd (RVNL) shares halted a four-day winning run on Dalal Street after the PSU stock has given stellar returns of nearly 35 per cent or Rs 26. 3 in an otherwise consolidated market in the last 5 days. The stock rallied around 20 per cent on Tuesday.  The counter opened at Rs 108 and later touched an all-time 52-week-high of 114.7 on NSE followed by a downtrend on the bourses. At 10:05, the counter quoted Rs 101.6, down 2.87 per cent or Rs 3 on NSE. 

The railway stock is available at a discount of 11 per cent off the 52-week-high. Talking about the recent correction, independent market analyst Ambareesh Baliga said," The stock has moved up from Rs 22-35 levels to touching 114 levels, it is natural for the stock to experience profit booking." 

He added, "In the long term, the last 12 months' order close is very consistent. As per the management, margins are expected to grow up by 100 basis points."   "The allocation happening in railway and infra, all railway stocks will do well in the possible near future," he further said. 

Meanwhile, railway stocks buzzed the most on Tuesday on the bourse. For instance, RITES jumped over 8.5 per cent while Texmaco Rail & Engineering shot up 6 per cent and Titagarh Wagons was up over 2.6 per cent on Tuesday.

RVNL share price: Historical performance

On a YTD basis, the stock has gained around  52 per cent of its value, a period in which headline index Nifty50 has corrected nearly 2.5 per cent. 

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