RVNL share price saw a remarkable surge, rising over 15% on May 21, 2024. This significant increase follows the company’s announcement of winning a major contract worth Rs 148.26 crore from South Eastern Railway. The order is for upgrading the electric traction system from 1×25 KV to 2×25 KV for the Kharagpur-Bhadrak section of the Kharagpur Division. The project is expected to be completed within 18 months.
RVNL Secures Major Contract, Sends RVNL Share Price Skyrocketing with Over 15% Surge
RVNL share price has been bolstered by the company’s impressive financial performance in recent quarters. For the January-March quarter, RVNL‘s consolidated revenue reached Rs 6,714 crore, reflecting a 17.4% increase. The company’s EBITDA surged by 21.8% to Rs 456 crore, and profit after tax (PAT) jumped by an impressive 33.2% to Rs 478.6 crore. The PAT margin also saw a slight increase from 6.6% to 6.8%. Additionally, RVNL declared a dividend of 21.10%, or Rs 2.11 per share, on a face value of Rs 10.
Over the past few years, RVNL share price has been a stellar performer. Investors have seen a return of over 1000% in the last three years. In just the past two years, the stock has gained over 967%, and in the past year alone, it has surged by 192%. So far in 2024, the shares have already climbed by around 86%. Currently, RVNL’s market capitalization stands at Rs 70,765.58 crore, with a 52-week low of Rs 110.50 and a 52-week high of Rs 345.70.
The recent contract win from South Eastern Railway is just one in a series of successful bids by RVNL. Earlier in May, RVNL received a letter of acceptance for an order from Southern Railway to provide an automatic block signaling system, a project to be executed within 12 months. Additionally, in March, the company secured four significant orders worth Rs 2,092 crore. These included a joint venture with URC for a project with Madhya Pradesh Metro Rail Corporation Limited and orders from the Himachal Pradesh State Electricity Board for distribution infrastructure development.
RVNL share price has been significantly boosted by its robust financial performance and strategic order wins. These factors make the stock an attractive investment opportunity. The company’s ability to consistently secure and execute large-scale projects positions it well for continued growth in the Indian railway infrastructure sector.
With a year-to-date gain of over 48% and a one-year gain of 125%, RVNL share price has been on a consistent upward trajectory. This strong performance, coupled with the company’s ambitious growth plans and solid financials, suggests that RVNL is well-poised to continue delivering value to its shareholders.
In conclusion, the recent surge in RVNL share price is a reflection of the company’s strong financial health, successful project acquisitions, and the broader growth potential of the Indian railway infrastructure sector. Investors looking for promising opportunities would do well to keep an eye on RVNL as it continues to build on its impressive track record.
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