RVNL Share Price Surge:

• The stock soared 18.94% to hit an all-time high of Rs 498.05.
• Settled 17.36% higher at Rs 491.45.
• Gained 169.81% in 2024 so far.

Recent Developments:

• Securing fresh orders and signing meaningful pacts.
• Signed a Memorandum of Understanding (MoU) with Delhi Metro Rail Corporation Ltd (DMRC).

MoU with DMRC:

• Collaboration for upcoming projects in India and abroad.
• Projects include Metro, Railways, High Speed Rail, Highways, MegaBridges, Tunnels, Institutional Buildings/Workshops or Depots, S&T works, and Railway Electrification.

Contracts and Bidding:

• Emerged as the lowest bidder for a Central Railway contract worth Rs 132.59 crore.

Technical Analysis:

• Support level at Rs 470.
• Potential upside target of Rs 520 in the near term.
• Expected trading range: Rs 425 to Rs 515.
• Recommended stop loss at Rs 470.

Company Role and Government Stake:

• RVNL is the executing arm of Indian Railways, working on a turnkey basis.
• Undertakes project development from conceptualisation to commissioning.
• Government held a 54.03% stake as of March 2024.