1166% return in 5 years: Should you buy this multibagger railway PSU stock? Check target price

RVNL Share Price Target 2024: Shares of Rail Vikas Nigam Limited (RVNL) gained over 2 per cent as equity benchmark indices Sensex and Nifty rebounded in early deals on Monday amid a rally in global markets. The 30-share BSE Sensex jumped 411.15 points to 74,141.31 in early trade. The NSE Nifty went up by 94.2 points to 22,514.15.

The railway PSU stock opened at Rs 292 and went on to hit the day's high of Rs 296.20, a jump of around 2.19 per cent from the previous close of Rs 289.85 on the BSE. The shares of RVNL, which has a market cap of Rs 60,653 crore, have a 52-week high of Rs 345.60 and a 52-week low of Rs 103.75. 

RVNL Share Price Target 2024

Brokerage firm Prabhudas Lilladher has given a 'buy' rating to railway PSU stock Rail Vikas Nigam Limited (RVNL) with a target price of Rs 315. The brokerage firm has set a stop loss at Rs 255.

RVNL Share Price Share Price History

RVNL is one of the multibagger railway PSU stocks. It has given a massive return of 1166.96 per cent in the last 5 years. While the scrip has given a positive return of 170 in one year, it has made investors wealthier by around 764 per cent in the last two years. So far this year, the scrip has given a return of around 60 per cent.

Meanwhile, the company in an exchange filing said that it has won a fresh order worth Rs 239.10 crore from Southern Railway.

"It is hereby informed that RVNL emerges as the lowest bidder (L1) from Southern Railway for Provision of Automatic Block Signaling system in Jolarpettai Junction to Erode Junction of Salem Division in Southern Railway," the company said.