RVNL share witnesses a strong rally of 11%, share price reaches Rs 400 for the first time

On Monday, June 3, shares of Rail Vikas Nigam Ltd. (RVNL) passed beyond the ₹400 mark for the first time, setting a new record of ₹425. The company’s market capitalization is now almost at ₹85,000 crore after Monday’s jump.

Among railway companies, the multibagger rail PSU stock has performed very well over the past 12 months, rising by more than 250%.

With the stock’s Relative Strength Index (RSI) at 81.5, RVNL’s charts are trading in overbought territory, trading above all of its daily moving averages. If the RSI value is higher than 70, it indicates that the stock is in overbought territory. This suggests that a stock decline may occur.

The company’s revenue, EBITDA, and PAT increased by 17%, 22% and 33% year over year during the March quarter alone. By the end of the fourth quarter, the order book was over ₹85,000 crore.

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