RVNL shares hit record high of ₹495; what's behind its 40% rise in one month?
The mcap of the PSU railway stock crossed ₹1 lakh crore mark for the first time today after the shares surged 18% intraday
The mcap of the PSU railway stock crossed ₹1 lakh crore mark for the first time today after the shares surged 18% intraday
All railway-related stocks were trading higher today after Ashwini Vaishnaw retained the railway ministry in Modi 3.0, raising hopes for continuity in policies.
The share price of RVNL rose 8% to hit a fresh record high of ₹399.70 today after it bagged a new order worth ₹187 crore from Maharashtra Metro Rail Corp.
In two years and three years, the counter has surged 963% and 1,028%, respectively.
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.
The largecap stock, which made its share market debut on April 11, 2019, has risen more than 1,500% in the last five years.
Both PSUs levied fines worth ₹5,42,800 each by NSE, BSE for not having enough independent board members
The stock, which made its market debut in June last year, hit a fresh all-time high of ₹398.10 on September 5, after touching 52-week low of ₹66.90 on September 27, 2022.
Shares of RVNL jumped as much as 14% in intraday trade to ₹163.45 apiece on the NSE.