RVNL hits 52-week high on new order win from Central Railways; details here
Illustration: Ajay Mohanty
Shares of Rail Vikas Nigam Limited (RVNL) rose as much as 3.26 per cent to hit a fresh 52-week high of Rs 647 per share on Monday.
The uptick in share price came after the company secured a Letter of Acceptance (LoA) for a project worth Rs 132.6 crore from Central Railway for OHE modification work in Nagpur division. The order will be executed by next 24 months.
Rail Vikas Nigam Limited, headquartered in New Delhi, specialises in constructing railway infrastructure projects across India.
Established in 2003, the company actively engages in developing and executing various railway initiatives, including new lines, track doubling, gauge conversion, electrification, metro projects, bridges (including cable-stayed), and institutional buildings. Additionally, it offers financial resource mobilisation services to support its projects.
Rail Vikas Nigam Limited serves clients such as Indian Railways, central and state government ministries, departments, and public sector undertakings.
Financially, the state-owned company reported a 33.2 per cent year-on-year increase in profit to Rs 478.6 crore for the fourth quarter ending March 31, 2024 (Q4FY24), up from Rs 359 crore in the same quarter a year earlier (Q4FY23).
Its revenue grew 17.4 per cent to Rs 6,714 crore in Q4FY24 compared to Rs 5,719.8 crore in Q4FY23.
The company has a total market capitalization of Rs 1.31 trillion, according to Bombay Stock Exchange (BSE). The company’s shares are trading at a price to earnings multiple of 89.30 with an earning per share of Rs 7.02.
At 11:27 AM, shares of RVNL were trading 0.89 per cent higher at Rs 632.10 per share. By comparison, BSE Sensex was trading 0.25 per cent higher at 80,722 levels.
First Published: Jul 15 2024 | 11:34 AM IST
