Shares of the company rose as much as 8.43% during the day, reaching the highest level since Feb. 29. The stock has risen 286.16% in the last 12 months. The total traded volume so far in the day stood at 1.5 times its 30-day average. Of the three analysts tracking the company, one maintains a 'buy' rating and two recommend a 'hold', according to Bloomberg data. The average 12-month analysts' price target implies a downside of 3%.
Key takeaways:
- Rail Vikas Nigam Ltd. shares jumped over 8% after securing four projects worth a total of Rs 2,092 crore.
- The company received a letter of award from the Madhya Pradesh Poorv Kshetra Vidyut Vitaran Co. for a project worth Rs 251 crore.
- It also received a second letter of award from the Himachal Pradesh state electricity board for a project worth Rs 889 crore, and a third order for a project in the north zone worth Rs 409 crore.
- The fourth order is for the design and construction of an elevated viaduct, metro rail stations, and a ramp-up between stations, worth Rs 543 crore.