RVNL shares: MiniRatna CPSE shares strikes 26% rise in past 4 days
The company's shares rallied 14% in the last three trading sessions after a consortium of Siemens and Rail Vikas Nigam were awarded two orders from Gujarat Metro Rail Corporation.
New Delhi: Rail Vikas Nigam (RVNL) has been making headlines due to its impressive performance in the stock market. The company's shares have seen a 26% rise in the past four days, with a total YoY gain of 138%. Recently, RVNL became part of a consortium that secured 50.8 million).
The company's shares rallied 14% in the last three trading sessions after a consortium of Siemens and Rail Vikas Nigam were awarded two orders from Gujarat Metro Rail Corporation.
The company has secured a $6.5 billion contract for the production and maintenance of 120 long-distance Vande Bharat trains for Indian Railways and is in the final stages of acquiring a Mumbai Metro contract
However, RVNL reported a 30.5% rise in net profit to Rs 382.42 crore in Q3FY23. Over the last three years, RVNL achieved compound earnings per share growth of 29% per year, leading to total shareholder returns of 433% over the same period.
Despite RVNL's impressive performance, some market analysts suggest caution, with an average target price of Rs 61 indicating a downside of 26% from current market prices.