RVNL Zooms Over 13% Amidst ₹148 Crore Order From South Eastern Railway

RVNL Zooms Over 13% Amidst ₹148 Crore Order From South Eastern Railway

Rail Vikas Nigam Ltd. (RVNL) has received a Letter of Acceptance (LoI) from (SER HQ) South Eastern Railway.

Vikrant DurgaleUpdated: Tuesday, May 21, 2024, 12:22 PM IST
article-image
RVNL Zooms Over 13% Amidst ₹148 Crore Order From South Eastern Railway |

On Monday, shares of Rail Vikas Nigam Ltd (RVNL) spiked over 13 per cent to an intraday high of Rs 340 per share from its previous closing of Rs 299.70 The stock’s 52-week high is Rs 345 and its 52-week low is Rs 110

In order to upgrade the electric traction system for the Kharagpur (Excl.)-Bhadrak (Excl.) section of the Kharagpur division of South Eastern Railway and meet the 3000 MT loading target.

Rail Vikas Nigam Ltd. (RVNL) has received a Letter of Acceptance (LoI) from (SER HQ) South Eastern Railway. The work will be completed in 18 months.

In Q4 FY24 compared to Q4 FY23, net sales climbed by 27.5% to Rs 435 crore, while net sales increased by 17.4 per cent to Rs 6,714 crore.

Financial Oulook

According to its annual results, net sales climbed by 16.5 percent to Rs 1,469 crore in FY24 compared to FY23 and by 8 per cent to Rs 21,889 crore. For the fiscal year 2023–2024, the Board recommended paying a final dividend of Rs 2.11 per share, or 21.1 percent, on the paid-up equity share capital.

With a strong order book of more than Rs 65,000 crores as of December 31, 2023, RVNL is primarily focused on railway, metro, and international projects.

With a market valuation exceeding Rs 62,000 crore, the company's shares exhibit a 21 per cent return on equity and an 18 per cent return on capital employed. A staggering 150 per cent return in just one year and a 95 per cent return in three years were achieved by the stock.

The Government of India established Rail Vikas Nigam Ltd., a Navratna company, in 2003 for a variety of rail infrastructure projects. Over the previous five years, the company has produced strong profit growth of 20.30 percent CAGR and has continued to pay out a healthy 33 percent dividend to shareholders.

RECENT STORIES

"Will Support Whatever Regulations, Guidelines Come," Says Infosys CEO On Draft K'taka Reservation...

German Luxury Marque: Mercedes-Benz CLE Cabriolet

German Luxury Marque: Mercedes-Benz CLE Cabriolet

Union Budget 2024: MSME Sector For Doubling Loan Limit Under MUDRA To ₹20 lakh

Union Budget 2024: MSME Sector For Doubling Loan Limit Under MUDRA To ₹20 lakh

Earnings Q1FY25: Infosys Net Profit Jumps 7.1% To ₹6,368 Crore

Earnings Q1FY25: Infosys Net Profit Jumps 7.1% To ₹6,368 Crore

Q1FY25 Earning Updates: Infosys Total Income Grows To ₹40,153 Cr; South Indian Bank Net Profit...

Q1FY25 Earning Updates: Infosys Total Income Grows To ₹40,153 Cr; South Indian Bank Net Profit...