Shares of Ral Vikas Nigam Limited (RVNL) continued their spectacular stock market rally for four consecutive day and witnessed a massive 40 per cent hike in value till Tuesday. Moreover, RVNL company stock touched its 52-week highest mark of ₹114.62 on BSE on Wednesday. Soon after that, the stock began its downward trend in the market.
At 10:15, the stock was trading 1.66% lower at ₹103.05 apiece. However, the minor downward trend in the early morning session is nothing in front of the above-average volumes of growth in last two sessions of the previous sweek and this week on Monday and Tuesday. The stock jumped around 19 per cent on Tuesday. The company's current market capitalisation stood at ₹21,475.71 crore.
RVNL share value has increased by 49.92% YTD, and its value has increased by 195.74% in last one year. Looking at the impressive growth trajectory of RVNL shares, stock market experts believe that it is a good time to buy the company shares.
IRVL is also emerging as an attractive investment option for market investors compared to IRCTC. IRCTC is a tech stock which enjoys the monopoly in online railway ticket booking business. Rise in online railway ticket bookings and demands can have a positive impact on IRCTC valuations. Another reason for slow growth of stock is the fact that the government is divesting its stake in IRCTC.
The rise in stock price came after the report of Indian Railways taking up the production of 120 advanced Vande Bharat Express trains by August 2023.
"At least 120 advanced Vande Bharat trains will be manufactured at Marathwada Railway coach factory in Latur, and efforts are on to begin production by August," news agency PTI reported quoting Union minister Raosaheb Danve.
Raosaheb Danve also told that the centre has sanctioned ₹600 crore to set up the coach factory in Latur. The facility will soon be started in Latur and efforts are on to behgin operations at the facilty at the earliest. The report also stated that RVNL will enter into a contract with a consortium of Russia.
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Take the testRVNL shares jump 40% in four days, company stock touched 52-week high | Mint - Mint
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