RVNL Share Price Drops 5% on Q4 Results Announcement
RVNL, a government-owned company, saw a 5% drop in its share price on Tuesday, May 30, on the National Stock Exchange. This drop comes after the announcement of the company’s Q4 results. The company’s shares closed at INR 115.55, down 4.98% from the previous day’s close, leading to a market capitalization of approximately INR 24,090 crore.
RVNL’s minimum share price in the last year was INR 29, touched on June 21, 2022. Its highest share price in the last year was INR 144.50, touched on May 8, 2023.
In the March quarter, RVNL’s consolidated net profit decreased by 5% YoY to INR 359.3 crore, while its revenue decreased by 11% YoY to INR 5,719.8 crore. Moreover, the company’s operating profit (EBITDA) decreased by 8.3% YoY to INR 374.4 crore in the March quarter.
RVNL’s share price has seen a rise of approximately 71% since the beginning of this year. In the last year, the stock has given a multibagger return of 263% to its investors.
Technical analysis suggests that RVNL’s share is currently trading above its 7 SMAs. The stock is also trading above its 5-day, 10-day, 30-day, 50-day, 100-day, 150-day, and 200-day moving averages. However, it is trading below its 20-day moving average. Its daily RSI (14) is at 61.6.
RVNL is a government-owned company engaged in the construction of new railway lines, railway line doubling, gauge conversion, railway electrification, metro projects, major bridges, workshops, cable-stayed bridges, and institutional buildings, among other railway projects. The company operates mostly on the turnkey model. Recently, the Indian government awarded it the status of ‘Navratna company.’
Follow DelhiBreakings on Google News
Superfast News Coverage by DelhiBreakings.com team.
For Superfast national news and Delhi Breaking Stories visit us daily at https://delhibreakings.com
Something went wrong. Please refresh the page and/or try again.