RVNL shares slide despite securing new order; fall over 7% post Budget
RVNL, which comes under the Ministry of Railways, has bagged an order worth ₹191.53 crore from South Eastern Railway.
RVNL, which comes under the Ministry of Railways, has bagged an order worth ₹191.53 crore from South Eastern Railway.
The PSU stock has risen nearly 300% from its 52-week low of ₹96.20 hit on March 28, 2023.
The PSU has received multiple orders from Himachal Pradesh State Electricity Board and Madhya Pradesh Metro Rail Corporation.
Shares of RVNL, the construction arm of the Ministry of Railways, gained as much as 11.86% to hit an intraday high of ₹281.45 on the BSE amid strong volume.
Highway ministry got an allocation of ₹2,72,241 crore compared with ₹2,58,600 crore allocated in 2023-24
Budget gives highest allocation to defence at ₹6.2 lakh crore in FY25
The largecap stock, which made its share market debut on April 11, 2019, has risen more than 1,500% in the last five years.
With the 2024 Lok Sabha polls around the corner, will the capex bandwagon still continue to roll?
In the calendar year 2023, Texmaco Rail & Engineering share has rallied 210%, while it surged 220% in the past 12 months.
The consortium between Ramkrishna Forgings and Titagarh has been awarded the contract to manufacture and supply 15,40,000 forged wheels to the Indian Railways.