The shares of Rail Vikas Nigam Limited (RVNL) are continuously rising. Today the stock crossed ₹432 with a rise of 5%. This railway stock has registered a rise of more than 13% in the last two days. The jump comes after orders worth ₹9,613.42 crore were received from Bharatiya Sanchar Nigam Limited (BSNL).
Big order received from BSNL
RVNL said in a BSE filing:
“Letter of Acceptance has been received from BSNL for construction, upgrade, operation and maintenance of Bharat Net’s middle mile network on Design, Build, Operate and Maintain (DBOM) model.”
Market experts’ opinion on shares
Shares of RVNL are down Rs 215 from their 52-week high of ₹647. However, it has recovered from 52-week low of ₹213 to ₹230.
- Kranti Bathini (WealthMills Securities):
“This stock could be an attractive option for long-term investors, especially given the increasing focus on railway infrastructure.”
- Ravi Singh (Religare Broking):
“The stock may touch the target of ₹430 soon. Keep stop loss at ₹390.”
- Osho Krishna (Angel One):
“Support for the stock lies in the range of ₹390-370, while ₹450 remains a strong resistance.”
technical analysis
- Support Level: ₹390-370
- Resistance level: ₹450
- A decisive close above ₹419 will strengthen the chances of further upside.
Introduction to RVNL
RVNL is an executive branch of Indian Railways. It is responsible for completing projects from concept to commissioning on turnkey basis.
- Services:
- project design
- prepare estimate
- contract management
- project implementation
- Government stake: 72.84% stake in RVNL till September 2024.
Message to investors
Given RVNL’s recent performance and the government’s emphasis on railway projects, this stock could provide potential gains over the long term. Recent orders and strength at technical levels make it an attractive option for investors
