283% Rally In 1-Yr: PSU Railway Stock Under Rs 350 Hits 10% Lower Circuit

Leading mid cap public sector undertaking and Navratna CPSE, Rail Vikas Nigam Ltd (RVNL) shares today witnessed a decline of 8.67% intraday on BSE. Rail Vikas Nigam shares also hit 10% lower circuit today. RVNL shares offered attractive returns over the years to shareholders. In last 1-year, Rail Vikas Nigam stock surged 283% and rose 907% in last 3-years. The company on January 16 informed via its BSE filing about formation of subsidiary company in South Africa namely RVNL Infra South Africa. Check details below:

Rail Vikas Nigam Forms Subsidiary Company In South Africa: The company informed exchanges on January 16, "In terms of Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015. It is hereby informed that, Rail Vikas Nigam Limited (RVNL) has incorporated Subsidiary Company viz., RVNL INFRA SOUTH AFRICA."

RVNL Stock Outlook & Return: Last trading price of Rail Vikas Nigam shares on BSE is Rs 293.20 apiece. The 52-week high price of RVNL shares on BSE is Rs 345.60 apiece and 52-week low price is Rs 56.15 apiece, respectively. It has a market capitalisation of Rs 61,143.21 crore. RVNL shares rallied 31% in last 1-week only, jumped 58% in last 2-weeks, rose 114% in last 6-months, and offered rally of 687% in last 2-years. The scrip gained 908% in last 3-years.

Earlier last year on November 13, 2023 the company informed, "RVNL has received LOA for "Construction of 4 Nos. Tunnels (total Length 1.6km) with ballast less track, Earthwork in formation, Construction of Important Bridges (2nos), Major Bridges (1no), Minor Bridges (25nos), Supply of Stone ballast, Track linking, side drain retaining wall etc. from Km 831.8 to Km 841.9 in Dharakoh Maramjhiri section in connection with third line."

RVNL Financials: The company announced its quarterly result for the period of July to September tenure on November 9, 2023. The Navratna CPSE company announced a surge of 3.4% in its net profit at Rs 394.3 crore as compared to Rs 381.2 crore declared in the corresponding period of last year. Sequentially, RVNL declared a surge of 15% in its net profit from Rs 343 crore. The company's revenue for the period under consideration surged 4914.3 as against Rs 4908.9 crore in the last fiscal. Its income from other operations soared 33% year-on-year to Rs 296 crore. The company reported its Q2 EBITDA at Rs 298.3 crore, down 5.6% from Rs 315.9 crore an year ago.

About: RVNL is a Navratna CPSE under the Ministry of Railways, Government of India. RVNL functions as an extended arm of the Ministry of Railways working for & on behalf of Ministry of Railways (MoR). It is empowered to act as an Umbrella SPV to undertake project development, resource mobilization etc. directly or by creating project specific SPVs or by any other financing structure found suitable, according to its official website.

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