RVNL Shares Jump Over 9% After Bagging Order From Madhya Pradesh Electricity Board

Shares of Rail Vikas Nigam Ltd. surged over 9% after the company won orders from Madhya Pradesh Paschim Kshetra Vidyut Vitran Co. The company was the lowest bidder for an order worth Rs 106.37 crore, which is expected to be completed in 24 months. Despite being removed from the MSCI Emerging Markets Small Cap Index, the stock still saw a significant increase.

The company's shares rose as much as 9.23% to Rs 250.80 each, and as of 10:01 a.m., they were trading 7.67% higher at Rs 247.20 each. The stock has risen 329.33% in the past 12 months. Out of three analysts tracking the company, one maintains a 'buy' rating and two suggest a 'hold'. The average 12-month consensus price target implies a downside of 0.5%.

Key takeaways

Rail Vikas Nigam Ltd. won orders from Madhya Pradesh Paschim Kshetra Vidyut Vitran Co., causing its shares to jump over 9%.
The company emerged as the lowest bidder for an order worth Rs 106.37 crore, which is expected to be completed in 24 months.
The stock surged despite being removed from the MSCI Emerging Markets Small Cap Index in its February rejig.
Out of three analysts tracking the company, one maintains a 'buy' rating and two suggest a 'hold', according to Bloomberg data.

RVNL Shares Jump Over 9% After Bagging Order From Madhya Pradesh Electricity Board

Key takeaways

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