Shares of Rail Vikas Nigam Ltd (RVNL) surged 15% on May 21 after securing a ₹148 Crore order from South Eastern Railway. At the time of writing on May 22, the stocks were trading at ₹344.90 which is an increase of 0.92% over the previous closing price. The stock has gained over 198% in the last one year, and 89% since the beginning of the year.
The order involves designing, supplying, erecting, testing, and commissioning an upgraded electric traction system for the Kharagpur division. Following the order announcement, RVNL shares hit an all-time high of ₹345.90 on the National Stock Exchange (NSE).
RVNL, a Mini Ratna PSU and project-executing agency, focuses on mobilizing financial resources, rail project development, enhancing the golden quadrilateral, and port connectivity.
The order entails upgrading the electric traction system from 1×25 KV to 2×25 KV for the Kharagpur Bhadrak section to meet a 3000 MT loading target.
In a regulatory filing, RVNL announced the appointment of NC Karmali as the part-time Government nominee director on the board, approved by the President of India.
RVNL recently reported a 33.2% year-on-year net profit growth to ₹478.6 Crore for the quarter ended March 2024. Revenue from operations grew 17.4% YoY to ₹6,714 Crore for the same quarter. The company’s EBITDA increased by 21.8% YoY to ₹456.4 Crore, with an EBITDA margin of 6.8%.
RVNL’s board recommended a final dividend of ₹2.11 per equity share. Year-to-date, RVNL shares have risen more than 85%, significantly outperforming Nifty’s 3.6% return.
For feedback and suggestions, write to us at editorial@iifl.com
For opening a demat account click on: https://www.indiainfoline.com/
For doing stock trading & investments, go to: https://ttweb.indiainfoline.com/trade/Login.aspx
For loans, go to: https://www.iifl.com/
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Securities Support WhatsApp Number
+91 9892691696
www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.