RVNL Shares Price Hit Fresh Record High, Jumping 36% in Two Sessions
RVNL Shares Price: Record High Achieved
RVNL shares price hit fresh record highs, with the stock soaring 15.53% to reach a new lifetime high of Rs 567.75. Over just two sessions, the RVNL shares price has surged by 35.58%, delivering multi-bagger returns and rallying over 210% on a year-to-date (YTD) basis.
RVNL Shares Price: Impressive Trading Volume
The RVNL shares price continued to rise on Monday, with heavy trading volume on the BSE. Approximately 1.15 crore shares changed hands, significantly higher than the two-week average volume of 26.44 lakh shares. The turnover reached Rs 633.10 crore, and the market capitalization hit Rs 1,17,240.68 crore. There were 5,98,990 sell orders compared to 3,43,877 buy orders.
RVNL Shares Boosted by New Orders
Recently, RVNL signed a Memorandum of Understanding (MoU) with the Delhi Metro Rail Corporation Ltd (DMRC) for participating in upcoming projects in India and abroad. This includes services for metro, railways, high-speed rail, highways, mega bridges, tunnels, institutional buildings, workshops, depots, S&T works, and railway electrification.
RVNL Shares: Winning Bids and Future Projects
Before this, RVNL emerged as the lowest bidder for a Central Railway contract worth Rs 132.59 crore. Additionally, Railway Minister Ashwini Vaishnaw announced the manufacturing of 2,500 new general passenger train coaches, with approval granted for another 10,000 such coaches.
Technical Analysis
On the technical front, the RVNL share price was trading above the 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day simple moving averages (SMAs). The 14-day relative strength index (RSI) stood at 87.76, indicating the stock is overbought, as a value above 70 is considered overbought.
Financial Metrics
The RVNL share price reflects a price-to-equity (P/E) ratio of 70.04 and a price-to-book (P/B) value of 13.03. The earnings per share (EPS) stood at 7.02, with a return on equity of 18.60.
RVNL’s Role and Government Stake
RVNL, an executing arm of Indian Railways, undertakes projects on a turnkey basis, managing the entire project cycle from conceptualization to commissioning. As of March 2024, the government holds a 72.84% stake in RVNL.
The RVNL share price hitting fresh record highs showcases the company’s strong performance and future potential. With significant new orders and strategic partnerships, RVNL continues to play a vital role in India’s railway infrastructure development.
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