RVNL Shares Surge Over 15% to Record High on Major Order Win
Rail Vikas Nigam Ltd (RVNL) shares soared over 15% during Tuesday’s intraday trades, reaching an all-time high of ₹345.90 on the NSE. This surge is attributed to RVNL’s recent order win from the South Eastern Railway headquarters-Electrical, announced on Monday. The order, valued at over ₹148 crore, involves upgrading the electric traction system from 1 x 25 KV to 2 x 25 KV for the Kharagpur-Bhadrak segment, with completion expected in 18 months.
RVNL’s share price has provided multibagger returns, increasing by more than 190% over the past year. The company’s strong financial performance for Q4FY24 also contributed to the positive market sentiment. RVNL reported a 33.2% year-on-year increase in net profit to ₹478.6 crore and an 18.8% rise in revenues to ₹6,714.01 crore. Earnings before interest, tax, depreciation, and amortization grew 21.8% YoY to ₹456 crore. Additionally, the Board recommended a final dividend of ₹2.11 per share for FY24.
The robust financial results and promising order flow have enhanced the forward earnings outlook, driving investor confidence.
