There is good news for investors of Government Railway Company Railway Development Corporation Limited (RVNL). The company is the lowest bidding (L1) for a project of South Western Railway. Under this project, the work of engineering, design, construction, supply, testing and commissioning has been assigned to RVNL.
Project details
- Time limit: RVNL will have to complete this work within 18 months.
- Total cost: ₹ 156.36 crore.
- Recently found big projects:
- An order of ₹ 554 crore was received in the Bengaluru Suburban Rail Project.
- RVNL shares had gained momentum due to these orders.
Kunal Khemu, the news of the attack on Saif Ali Khan, said – ‘First of all his well -being worried
Market response to stock
However, RVNL shares fell 2.56% to close at ₹ 371.60 on Friday.
Brokerage house opinion
- Antique brokerage house has advised to sell RVNL shares.
- The target price ₹ 215 per share (earlier ₹ 251).
- This stop loss is more than 40% compared to Friday’s closing price.
Investors are nervous, fast -selling shares
- RVNL shares have fallen by 34% in the last 6 months.
- However, despite this, RVNL shares have gained 42% this year.
- RVNL performed better compared to Sensex (Sensex increased by just 3.70%).
Should investors remain in RVNL?
Getting new projects may strengthen the company’s fundamental position, but investors need to be cautious given the negative opinion of brokerage and recent decline.
