Rail Vikas Nigam Limited (NSE: RVNL) has emerged as a compelling investment choice with an astounding 550% surge in its stock value, reaching an all-time high of Rs 235.1 per share on the BSE. This remarkable growth is underpinned by RVNL’s strategic moves in the renewable energy sector, particularly through a joint venture with Jakson Green Private Limited for exploring solar power projects in India and abroad. Additionally, the company’s recent announcement of establishing a subsidiary, RVNL Infra South Africa, signals its commitment to expanding its global footprint.
Q2 FY2023-24 Results
Despite a flat revenue from operations, RVNL reported a 3.5% rise in consolidated net profit for Q2 FY2023-24, reaching Rs 394.4 crore. Noteworthy is the 33.4% YoY increase in income from other operations, amounting to Rs 296 crore. Sequentially, the net profit saw a 15% uptick from the previous quarter, showcasing the company’s resilience amid challenging market conditions. While the revenue from operations experienced a decline of nearly 12% quarter-on-quarter, RVNL’s ability to bolster its bottom line is a testament to its operational efficiency.
Weekly Stock Performance
The weekly chart of RVNL’s stock depicts a substantial uptrend, delivering an impressive 560% return in just two years.
Foreign institutional investments (FIIs) have also been on the rise, particularly as of September 2023. With a market capitalization of approximately ₹50,135 crore, RVNL’s stock exhibits a strong bullish trend, evident in the weekly candle as of January 17, 2024. This bullish behavior aligns with recent positive developments in the company.
About Rail Vikas Nigam Ltd
Established in 2003 by the Government of India, Rail Vikas Nigam Ltd is at the forefront of implementing diverse rail infrastructure projects assigned by the Ministry of Railways. Engaged in activities such as doubling, gauge conversion, new lines, railway electrification, major bridges, workshops, production units, and revenue sharing through concession agreements, RVNL plays a pivotal role in enhancing and modernizing the Indian railway network.
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