RVNL shares: Shares of Rail Vikas Nigam Ltd (RVNL), a state-run company, closed nearly 6% higher on Friday following its announcement that it had secured the lowest bidder (L1) status for a project valued at Rs 191.5 cr from South Eastern Railway. RVNL’s shares ended the day up by 5.77% at Rs 409.70, compared to the previous day’s close of Rs 387.35 on the BSE. The market capitalization of the company rose to Rs 85,464 crore as a result.
According to the company’s statement to the stock exchanges, the project involves designing, supplying, erecting, testing, and commissioning a 132 KV Traction Substation, Sectioning Posts (SPs), and Subsectioning Posts (SSPs) on the Rajkhaswan-Nayagarh-Bolani section of the Chakradharpur division of South Eastern Railway. This initiative aims to achieve a loading target of 3000MT on an Engineering, Procurement, and Construction (EPC) basis.
During the trading session, a total of 86.14 lakh shares of RVNL were traded, resulting in a significant turnover of Rs 350.58 crore. RVNL shares exhibit a one-year beta of 1.5, indicating high volatility over the past year.
From a technical perspective, RVNL’s relative strength index (RSI) is at 63.2, indicating that it is currently trading neither in the overbought nor oversold territory. Additionally, Rail Vikas Nigam shares are trading above their 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day moving averages.
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RVNL serves as the implementation wing of Indian Railways, handling projects delegated by the ministry for execution. Operating on a turnkey basis, it manages the entire project lifecycle, encompassing conceptualization, design, cost estimation, contract tendering, and award, as well as project and contract oversight until completion and commissioning.
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