This railway company has formed a joint venture for an international project!
Shares for the company jumped more than 4 per cent today.
Rail Vikas Nigam Limited (RVNL) has formed a Joint Venture Company with Kyrgyzindustry - OJSC. The Joint Venture namely ‘Kyrgyzindustry-RVNL’ is a Closed Joint Stock Company (CJSC). The purpose of entering into the agreement is the construction of a Railroad and other infrastructure projects in the Kyrgyz Republic.
Earlier, the company had been declared a successful bidder in an International project in Maldives named Development of UTF (Uthuru Thila Falhu- Island) Harbour.
Rail Vikas Nigam Limited was incorporated in 2003 by the Government of India. It is engaged in the business of implementing various types of railway infrastructure projects. The company mainly caters to laying new railway lines, railway infrastructure and gauge conversion.
In Q2FY23, the company posted a revenue of Rs 4,909 crore grew by 21.94 per cent YoY. PAT stood at Rs 381 crore which is 36.56 per cent growth YoY and 27.85 per cent QoQ.
Today, the stock opened at Rs 66.35, with a high and low of Rs 70.75 and Rs 66.00. The stock previously closed at Rs 67.40. Currently, it is trading at Rs 70.60, up by 4.75 per cent.
In the last 6 months, the shares of the company have given 131.42 per cent returns and on a YTD basis, the stock has given 100.28 per cent returns.
The stock has a 52-week high of Rs 84.15 and a 52-week low of Rs 29. The company has a ROCE of 16.8 per cent and an ROE of 19.7 per cent with a market capitalization of Rs 14,720.24 crore.