Last Updated: April 28, 2023, 13:06 IST
Shares of Rail Vikas Nigam Limited (RVNL) climed 8 Per cent on (*121*) early morning commerce as the corporate introduced successful a Rs 121-crore challenge from the North-Central Railways.
The challenge is for the supply of E1-based computerized signaling with steady observe circuiting and different related works on the Jhansi-Gwalior part of the Jhansi Division of North Central Railway, the development arm of the rail ministry stated in an change submitting.
The order must be executed in 18 months, Rail Vikas Nigam Ltd stated.
The railway PSU has given large returns to the traders over the previous three years. Shares of RVNL have doubled in worth previously one 12 months interval whereas within the three-year interval the inventory has surged greater than 500%. The inventory has zoomed 40 per cent previously week and over 60 per cent previously month.
Earlier Siemens, as a part of a consortium together with Rail Vikas Nigam, acquired two separate orders from Gujarat Metro Rail Corporation (GMRCL).
The orders are for Surat Metro Phase 1 (over 40 kilometres masking 38 stations and a couple of depots) and Ahmedabad Metro Phase 2 (over 28 kilometres masking 23 stations and 1 depot).
RVNL is now a Navratna firm
The Ministry of Finance elevated Rail Vikas Nigam Limited (RVNL) to the standing of a Navratna Central Public Sector Enterprise (CPSE) on Wednesday. RVNL, a public-sector railway firm, has already been on traders’ radar just lately due to a powerful rally within the inventory led by sturdy orders.
The time period ‘Navratna’ refers to a choose group of top-performing CPSEs which have been granted higher autonomy and monetary powers by the Indian authorities in recognition of their superior efficiency.
The time period ‘Navratna’, which means 9 gems, is used metaphorically to recommend that these corporations are just like the 9 valuable gems that shine brightly within the crown of Indian PSEs.
With RVNL added to the record, there are 13 Navratna corporations.
What Should Investors Do?
“As we know, this time in the Budget, the highest railway infrastructure spending is seen which will help this company improve margin and growth. Technicals also look great after breakout above Rs 77. Now, the next target is Rs 188 in the next 6 months. Keep stop loss at Rs 75,” stated Ravi Singhal, CEO of GCL Broking.
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