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 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.
Shares of RVNL, the infrastructure arm of the Ministry of Railways, fell 5% in opening trade to ₹126 on the NSE.
In the last eleven months, the railway stock has surged more than 300% from its 52-week low of ₹29 on June 21, 2022, to ₹118.40 intraday today.
The PSU stock has delivered nearly 300% returns in the last ten months, hitting a new all-time high of ₹114.62 intraday from its 52-week low of ₹29 touched on June 21, 2022.
The railway-related stock trades 156% higher than its 52-week low of ₹29 touched on June 21, 2022.
The railway stock has risen 133% against its 52-week low of ₹29 touched on June 21, 2022.