Sign up to save tools and stay up to date with the latest in AI
bg
bg
1

RVNL Extends Rally After Bagging Contracts, Shares Rise 8%

Jun 06, 2024 - ndtvprofit.com
Shares of Rail Vikas Nigam Ltd. (RNVL) surged by 8.41% to Rs 383 each on the National Stock Exchange after the company secured a contract worth approximately Rs 391 crore from the Eastern Railway. The contract, which involves the construction of the Sitarampur bypass line under Asansol Division, is expected to be completed within two years. RNVL also emerged as the lowest bidder for a Rs 124 crore contract by Dakshin Haryana Bijli Vitran Nigam Ltd, with a project completion timeline of 30 months.

The share price of RNVL has increased by 110.05% on a year-to-date basis and 212.92% in the last 12 months. Despite the surge, all three analysts tracking the company have a 'hold' rating for the stock, with Bloomberg data suggesting an average 12-month consensus price target implying a downside of 18.2%.

Key takeaways:

  • Rail Vikas Nigam Ltd.'s stock rose by 8.41% to Rs 383 apiece on the National Stock Exchange, following the company's acquisition of a contract worth approximately Rs 391 crore from the Eastern Railway.
  • The company also emerged as the lowest bidder for a contract worth Rs 124 crore by Dakshin Haryana Bijli Vitran Nigam Ltd.
  • The share price of Rail Vikas Nigam Ltd. has risen 110.05% on a year-to-date basis and 212.92% in the last 12 months.
  • All three analysts tracking the company have a 'hold' rating for this stock according to Bloomberg data, with an average 12-month consensus price target implying a downside of 18.2%.
View Full Article

Comments (0)

Be the first to comment!