In a choppy market, shares of the state-run Rail Vikas Nigam Ltd (RVNL) were up after the company secured an order for Rs 495 crore from NTPC. The letter of award is related to the "contract for the execution of Balance Civil & HM works of Barrage Complex including part HRT package of Rammam Hydro Electric Project Stage-III (3x40 MW)" that was awarded to the Project Execution Agency (PEA).
Comparing the multibagger railway stock to the previous closing on the BSE of Rs 368.80, it increased 3.57% to Rs 382. It increased by 196.81% in a year and by 1067.49% over the course of two years.
A total of 7.50 lakh RVNL shares were traded, generating a transaction of Rs28.26 crore. On the BSE, RVNL's market value increased to Rs78,751 crore. With a one-year beta of 0.6, RVNL shares show little volatility during that time.
Technically speaking, RVNL's relative strength index (RSI) is 62.1, indicating that it is neither trading in the overbought or oversold areas. The 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day moving averages are all higher than the shares of Rail Vikas Nigam, while the 5-day and 10-day moving averages are lower.
As per the company statement, "...it is hereby informed that Rail Vikas Nigam Limited has received a Letter of Award for "Project Execution Agency (PEA) contract for execution of Balance Civil & HM works of Barrage Complex including part HRT package of Rammam Hydro Electric Project Stage-III (3x40 MW)" from National Thermal Power Corporation (NTPC).
The corporation stated that 66 months is the completion term specified in the contract.
In comparison to a net profit of Rs 359 crore in the same quarter of FY23, Rail Vikas Nigam Ltd (RVNL) recorded a 33.2% year-over-year (YoY) increase in net profit to Rs 478.6 crore in the fourth quarter. Operating revenue rose 17.4% to Rs 6,714 crore from Rs 5,719.8 crore during the same period in the previous fiscal year.
As Indian Railways' executing arm, RVNL handles projects given to it for completion on behalf of the government. It operates turnkey, handling every step of the project lifecycle from conception to completion, including design phases, estimate preparation, contract calling and awarding, project and contract administration.
