Rail Vikas Nigam Share Price Hits 52-Week High Due To This Reason - Details

For the full fiscal year, RVNL reported a revenue growth of 7.9 per cent, reaching Rs 21,889.2 crore. The company's net profit for FY24 surged by 17.3 per cent, amounting to Rs 1,574.4 crore.
Rail Vikas Nigam Limited Stock Touches 52-Week High

Rail Vikas Nigam Limited Stock Touches 52-Week High (Image Source: iStockphoto)

On Tuesday, at the time of filing, the shares of Rail Vikas Nigam jumped over 13 per cent and were trading at Rs 340.90, during intraday, the shares also touched 52 week high of Rs 345.90.
The surge in the shares can be attributed after the company bagged an order from South Eastern Railway. The company said it on the filing on NSE, "In terms of Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, it is hereby informed that Rail Vikas Nigam Limited has received Letter of Acceptance from SER HQELECTRICAL/SOUTH EASTERN RAILWAY for “Design, Supply, Erection, Testing and Commissioning for upgradation of Electric traction system from 1 x 25 KV to 2 x 25 KV traction system for Kharagpur (Excl.)- Bhadrak (Excl.) section of Kharagpur division of South Eastern Railway to meet 3000 MT loading Target."
Rail Vikas Nigam Limited Q4 Results
Rail Vikas Nigam Limited (RVNL) announced a robust performance in the fourth quarter of the financial year 2023-24, posting a consolidated net profit of Rs 478.4 crore.
For the full fiscal year, RVNL reported a revenue growth of 7.9 per cent, reaching Rs 21,889.2 crore. The company's net profit for FY24 surged by 17.3 per cent, amounting to Rs 1,574.4 crore. Additionally, RVNL announced a dividend of Rs 2.11 per share.
According to the BSE analytics, the shares have given massive returns of 102.73 per cent in the last 6 months, 191.22 per cent in the last 1 year and 963.68 per cent in the last 3 years.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. Times Now Digital suggests its readers/audience to consult their financial advisors before making any money related decisions.)
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