1300% return in 2 years: This PSU stock surges over 5% in initial trade - Check details
RVNL Share Price NSE, BSE: The PSU stock has given a multibagger return of 248 per cent in one year and around 1301 per cent in two years.
RVNL Share Price NSE, BSE: The shares of Rail Vikas Nigam Limited (RVNL) surged over 5 per cent in early trade on Monday even as Sensex declined 463.96 points to 76,745.94 and Nifty dropped 149.6 points to 23,351.50. The counter opened in green at Rs 410 and went on to hit a high of Rs 432, a gain of around 5.44 per cent from the previous close of Rs 409.70.
Last seen, the counter was trading at Rs 417.55. The shares of RVNL, which has a market cap of Rs 86,695 crore, have a 52-week high of Rs 432 and a 52-week low of Rs 117.35.
RVNL Share Price History
The PSU stock has given a multibagger return of 248 per cent in one year and around 1301 per cent in two years. The counter has already gained 138 per cent so far this year.
RVNL Share Price in News
The shares of Public sector enterprise Rail Vikas Nigam Limited (RVNL) is news as the company has won a contract worth Rs 191.53 crore from the South Eastern Railway.
The PSU will handle the design, supply, installation, testing, and commissioning of a 132 KV traction substation and related posts on the Raj Khaswan, Nayagarh-Bolani section to support a 3000MT loading target. The project must be completed in 18 months.
"Rail Vikas Nigam Limited emerges as the Lowest Bidder (L1) from SER HQ-ELECTRICAL/SOUTH EASTERN RAILWAY for 'Design, Supply, Erection, Testing & Commissioning of 132 KV Traction Substation, Sectioning post (SPs), and Sub sectioning post (SSPs) in 2x25KV System on Rajkhaswan- Nayagarh-Bolani section of Chakradharpur division of South Eastern Railway to meet 3000MT loading target on EPC mode," the Rail sector PSU said.
RVNL, which works on various railway projects including new lines and electrification, reported a 33.16 per cent increase in profit, reaching a little over Rs 478 crore in the fourth quarter of the financial year (FY) 2024, up from Rs 359.25 crore in Q4FY23.
In May last year, the company which comes under the Ministry of Railways received the 'Navratna' status. It was incorporated as a PSU on January 24, 2003, with the objective of implementing projects relating to the creation and augmentation of capacities of rail infrastructure.
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