RVNL share price jumps over 5% on bagging ₹239 crore order from Southern Railway
₹239 crore from Southern Railway on Monday. Rail Vikas Nigam Ltd (RVNL) said in an exchange filing that it has got an order to provide an automatic block signalling system from Jolarpettai Junction to Erode Junction of the Salem Division of the Southern Railway. The order is to be executed within 12 months.
Also Read: Varun Beverages share price jumps over 5% buoyed by Q1 result; should you buy stock? Here's what experts say The company recently stated in an exchange filing that it has postponed and rescheduled the Q4 results date to Friday, May 17. It had initially been scheduled for Wednesday, May 15. The firm reported its October-December quarter results (Q3FY24), indicating a 6.2% fall in net profit to ₹358.6 crore, compared to ₹382.4 crore the previous year.
The Indian Railways PSU's revenue from operations in the third quarter of the FY24 declined 6.4% to ₹4,689.3 crore, compared to ₹5,012.1 crore in the same period previous year. Also Read: Does rising India VIX mean a rising tide against BJP's win in Lok Sabha Election 2024? On a sequential basis, the company's net profit declined 9.1% from ₹394.4 crore in the quarter ended September 2023. The revenue from operations fell 4.6% quarter on quarter from ₹4,914.32 crore in the September quarter.
RVNL share price today opened at ₹260.35 apiece on BSE, the stock touched an intraday high of ₹269.45, and an intraday low of ₹260 per share on BSE. According to Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, the stock has seen strong traction, opening up by more than 3%. If prices sustain these gains on closing, it may confirm a higher bottom close on the daily chart that may push for a strong move in the coming sessions; 290–300 would be the next
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