RVNL Share Price Surge Following Project Win
Rail Vikas Nigam Limited (RVNL) has emerged as the lowest bidder for a significant rail project, leading to a notable rise in its stock price. On Wednesday, October 6, shares were trading at Rs 469.75, reflecting a 4.18% increase. Experts indicate that RVNL shares remain robust and may continue to yield positive returns.
Major Contract Details
RVNL recently submitted a bid of Rs 613 crore for the Bengaluru Suburban Rail Project under Package C4 A, partnering with Ritwik Project Private Limited. The project involves the construction of nine stations across various locations, including Hillije and Bellandur, and is expected to be completed within two years.
Impressive Returns for Investors
The stock has shown extraordinary performance with a 204.05% return over the past year and a staggering 1,869.60% over five years. Currently, RVNL shares are trading at Rs 476, up 1.45% as of November 7, 2024.
Investment Caution
Disclaimer: Investing in the stock market carries risks. Always consult a financial advisor before making investment decisions.
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Summary at glance
Rail Vikas Nigam Limited (RVNL) emerged as the lowest bidder for a major rail project, resulting in a 4.18% rise in its shares to Rs 469.75 on October 6. The company is set to construct nine stations in Karnataka for the Bengaluru Suburban Rail Project, with a bid of Rs 613 crore, and a 51% stake in a joint venture. RVNL has delivered significant returns, with a 204.05% increase over the past year.
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