There was a huge jump in the shares of Rail Vikas Nigam Limited (RVNL) today. Today, as soon as the Share Market opened, the share of 7.32 RVNL increased to 146.65 with a huge jump. Which is its highest level of 52 weeks. It had closed at Rs 136.65 in the previous session. This year it has given about 111% return to its investors, similarly it has increased by 368% in the last year. At 11 am, it was trading at Rs 143.10, up 4.72 per cent. RVNL is the construction company of Railways. Still, there is little possibility of a decline in it.
Why is Share jumping?
RVNL has recently formed a subsidiary company named Kinet Railway Solutions Ltd. In this, the Russian company Metrowagonmash has a 70 percent stake and Locomotive Electronic Systems has a five percent stake, apart from this RVNL has a 25 percent stake. In addition, RVNL has received a contract worth Rs 808 crore from the National Highways Authority of India in Odisha.