RVNL shares rise over 3% on winning Rs 123 crore order

The order will be executed in 30 months as stated in a BSE filing by RVNL.

Further, RVNL has also signed a MoU (Memorandum of Understanding) with REC, as disclosed in a separate filing with the BSE on January 2. In this collaboration, REC will finance infrastructure projects worth up to Rs 35,000 crore over the next five years. The agreement focuses on a range of projects, including multi-modal logistics hubs, rail infrastructure, road, port, and metro projects.

At 10:54 am, the scrip was trading 1.8% higher at Rs 184 on BSE. The stock has also delivered multibagger returns to its investors, as the stock rallied over 155% in the last one year, while it has surged nearly 420% in the last two years. The stock also delivered over 670% in the past three years.

In Q2 FY24, the firm reported a 3.4% rise in profit at Rs 394.3 crore against Rs 381.2 crore in the year-ago period. The revenue in Q2 FY24, however, climbed only marginally to Rs 4,914.3 crore, as compared to Rs 4,908.9 crore in the preceding year.

Its earnings before interest, taxes, depreciation, and amortisation or EBITDA declined 5.6% for the period under review, to Rs 298.3 crore, against Rs 315.9 crore year-on-year.

Technically, the stock’s day RSI (14) is at 59.4. The RSI below 30 is considered oversold and above 70 is overbought, Trendlyne data showed. MACD is at 3.8, which is above its Center Line, but below signal line. RVNL stock stands higher than the 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day and 200-day moving averages.RVNL, a “Schedule ‘A’ Navratna” CPSE under the Ministry of Railways, contributes to approximately 30% of Indian Railways’ infrastructure needs. Besides focusing on railway projects, RVNL has ventured into road, port, irrigation, and metro projects, often integrating these with railway infrastructure.

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