Railway PSU Sets Sept 23 As Record Date, Shares Jump 373% In 1-Year

Rail Vikas Nigam Ltd shares today surged 5.02% to Rs 608.45 per share on BSE. The railway PSU fixed September 23, 2024 as the record date for final dividend of Rs 2.11 per share for financial year 2023-24. Rail Vikas Nigam shares offered attractive returns of 373% in last 1-year and surged 234% year-to-date. The company has a market capitalisation of Rs 1,26,863.05 crore. RVNL also informed today that it will hold its upcoming AGM on September 30, 2024. Today RVNL received new order from South Eastern Railway worth over Rs 220 crore. Earlier in August 29, Rail Vikas Nigam Ltd. informed about inking an MoU with Patel Engineering Limited. Life insurance corporation of India (LIC) has 6.44% stake in RVNL as of June 2024. Check details below:

RVNL Dividend: As per the May 17 BSE filing of RVNL, the board recommended a final dividend of Rs 2.11 per share (i.e. 2 1.10%) on the paid-up equity share capital for the financial year 2023-24.

RVNL Share Performance & Return: The 52-week high price of RVNL share on BSE is Rs 647.00 per share (as on 15/07/2024) and 52-week low price is Rs 129.90 per share (as on 31/08/2023), respectively. RVNL share slipped over 1% in last 1-month, gained 58% in last 3-months, soared 147% in last 6-months, surged 370% in last 1-year, rose 1734% in last 2-years, and offered more than 2000% in last 3-years.
Rail Vikas Nigam Bags Order From Southern Eastern Railway: According to the August 31 exchange filing, "Rail Vikas Nigam Limited received Letter of Acceptance from SER HQELECTRICAL/SOUTH EASTERN RAILWAY for "Design, Supply, Erection, Testing & Commissioning of 132 KV Traction Substation, Sectioning post (SPs), and Sub sectioning post (SSPs) in 2x25KV System on Kharagpur - Bhadrak section of Kharagpur division of South Eastern Railway to meet 3000MT."

RVNL Inks MoU With Patel Engineering: The BSE filing of RVNL issued as on August 29, 2024 stated, "In terms of Regulation 30 read with part B of Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, RVNL has signed MoU with M/s Patel Engineering Limited."

The key objective of the MoU is to cooperate and create an enabling framework for achieving synergies in the areas concerning Hydro and other infrastructure Projects and as when opportunities arise in India and Overseas.

Shareholding: FII/FPI have increased holdings from 2.32% to 3.13% in Jun 2024 qtr. Number of FII/FPI investors increased from 131 to 163 in Jun 2024 qtr. Mutual Funds have increased holdings from 0.09% to 0.19% in Jun 2024 qtr. Number of MF schemes increased from 17 to 18 in Jun 2024 qtr. Institutional Investors have increased holdings from 8.50% to 9.90% in Jun 2024 qtr.

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.

Disclaimer: The stock just highlights order win, MoU, dividend and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.