PSU Railway Stock Rallies 5.36% After CareEdge Assigns AAA Rating, YTD Return 144%

PSU mid cap Navratna CPSE, Rail Vikas Nigam Ltd (RVNL) shares soared 5.36% to 166.95 per share on November 17, 2023 after it obtained CARE AAA rating to its bank facilities with stable outlook from credit rating company CareEdge on November 16, 2023. RVNL shares soared 144 year-to-date and gained 353% in last 2-years. Check details below:

RVNL Receives Letter Of Acceptance (LOA) From Central Railway: According to the BSE filing of the company dated November 13, 2023, "RVNL has received LOA for "Construction of 4 Nos. Tunnels (total Length 1.6km) with ballast less track, Earthwork in formation, Construction of Important Bridges (2nos), Major Bridges (1no), Minor Bridges (25nos), Supply of Stone ballast, Track linking, side drain retaining wall etc. from Km 831.8 to Km 841.9 in Dharakoh Maramjhiri section in connection with third line."

RVNL Stock Outlook & Return: Last trading price of RVNL share is Rs 166.95 apiece on BSE. Its 52-week high price is Rs 199.35 apiece and 52-week low price is Rs 56.15 apiece, respectively. It has a market capitalisation of Rs 34,809.41 crore. RVNL shares rallied 34% in last 3-months, soared 144% YTD, gained 173% in last 1-year, jumped 353% in last 2-years, and offered return of 785% in last 3-years.

RVNL Financial Outlook: The company declared its quarterly result for the period of July to September tenure on November 9, 2023. The Navratna CPSE company announced a surge of 3.4% in its net profit at Rs 394.3 crore as compared to Rs 381.2 crore declared in the corresponding period of last year. Sequentially, RVNL declared a surge of 15% in its net profit from Rs 343 crore. The company's revenue for the period under consideration surged 4914.3 as against Rs 4908.9 crore in the last fiscal. Its income from other operations soared 33% year-on-year to Rs 296 crore. The company reported its Q2 EBITDA at Rs 298.3 crore, down 5.6% from Rs 315.9 crore an year ago.

RVNL About: RVNL is a Navratna CPSE under the Ministry of Railways, Government of India. RVNL functions as an extended arm of the Ministry of Railways working for & on behalf of Ministry of Railways (MoR). It is empowered to act as an Umbrella SPV to undertake project development, resource mobilization etc. directly or by creating project specific SPVs or by any other financing structure found suitable, according to its official website.

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