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After increasing by 49% in the Varkala Sivagiri Station Project JV, RVNL Shares Rise More Than 4%

<p>In Wednesday’s trading, Rail Vikas Nigam Ltd. (RVNL) shares increased by more than 4%. The stock has decreased 6.55% from its one-year peak of Rs 199.35, which was reached on September 12 of last year, to its current high price. The multi-bagger scrip has gained 231.79% from its 52-week low of Rs 56.15, which was reached on March 1, 2023, notwithstanding the previously indicated decline.</p>
<p><img decoding=”async” class=”alignnone wp-image-336813″ src=”” alt=” after increasing by 49 in the varkala sivagiri station project jv rvnl shares rise 1″ width=”1077″ height=”717″ title=”After increasing by 49% in the Varkala Sivagiri Station Project JV, RVNL Shares Rise More Than 4% 3″ srcset=” 275w,×100.jpg 150w” sizes=”(max-width: 1077px) 100vw, 1077px” /></p>
<p>A major Rs 123.36 crore project to refurbish Varkala Sivagiri railway station has been approved by the KRDCL-RVNL joint venture. With a 51 percent stake, KRDCL leads this collaboration, followed by RVNL with a 49 percent share. As indicated in an official filing by RVNL with the exchange, the aforementioned directive will be implemented within 30 months.</p>
<p>In addition, Rail Vikas Nigam and REC have inked a deal, which was revealed in a different BSE filing on January 2. RVNL will suggest financially sound projects with guaranteed or anticipated income and returns as part of this partnership. In response, REC will immediately investigate funding possibilities for these projects, subject to predetermined terms and yields. Through strategic collaboration between Rail Vikas Nigam and REC, this alliance aims to improve railway infrastructure and financial efficiency, representing a significant milestone in the growth of the railway industry.</p>
<p>Over the previous half-year, the RVNL stock has returned 48.67 percent. During the same period, the benchmark Nifty50 index has returned 12.13 percent.</p>
<p>Support on the counter was seen at Rs 178 on the technical setup, and at Rs 170 level after that. A decline that goes below the Rs 170 mark may lead to further declines. On the plus side, if the stock overcomes its immediate resistance, which is situated near Rs 188, it can return to its one-year high level.</p>
<p>“There will be resistance at Rs 188 and support at Rs 178.” Anand Rathi Shares and Stock Brokers’ senior manager of technical research analysis, Jigar S. Patel, said that the expected trading range for the next month would be between Rs 165 and Rs 210.</p>
<p>“On daily charts, the price of RVNL stock seems to be somewhat positive, with significant resistance near Rs 199. In the short term, Rs 145 might result from a daily closing below support of around Rs 170, according to AR Ramachandran of Tips2trades.</p>
<p>“Rs 200 is a likely short-term aim. Maintain your stop loss at Rs. 175,” said Ravi Singh, the founder of DRS Finvest.</p>
<p>When last seen, the counter was trading above the 5-day, 10-, 20-, 30-, 50-, 100-, 150-, and 200-day simple moving averages (SMAs). The relative strength index (RSI) for the counter after 14 days was 63.19. Oversold is defined as a level below 30, while overbought is defined as a number beyond 70. In comparison to a price-to-book (P/B) ratio of 5.30, the company’s stock has a price-to-equity (P/E) ratio of 27.12.</p>
<p>As the ministry’s executing arm, RVNL works for and on behalf of the ministry to carry out the projects that are given to it. It operates turnkey, handling every step of the project lifecycle from conception to completion, including design phases, estimate preparation, contract calling and awarding, and project and contract administration.</p>

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