rvnl stock today reached the top of 52 weeks
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New Delhi: There was a huge jump in the shares of Rail Vikas Nigam Limited (RVNL) today. The company’s stock rose 7.32 per cent to Rs 146.65 in early trade on the first day of the week. This is its 52-week top level. It had closed at Rs 136.65 in the previous session. This multibagger stock has given nearly 111% return to its investors this year while it has gained 368% in last one year. At 11 am, it was trading at Rs 143.10, up 4.72 per cent. RVNL is the construction company of the Railways.
The stock of the company is trading above its 5 day, 10 day, 20 day, 50 day, 100 day and 200 day moving averages. Its 14-day period Relative Strength Index is 80.55. Generally, below 30 it is considered oversold while above 70 is considered overbought. Company’s PE ie Price to Earnings ratio is 22.47 while Price to Book ie PB is 4.63. According to the data, its average target price is Rs 130. That is, there is a possibility of nine percent decline in it. But its one-year beta is 0.67, which suggests that it has a low downside risk.Why is the stock rising
The stock of the company is trading above its 5 day, 10 day, 20 day, 50 day, 100 day and 200 day moving averages. Its 14-day period Relative Strength Index is 80.55. Generally, below 30 it is considered oversold while above 70 is considered overbought. Company’s PE ie Price to Earnings ratio is 22.47 while Price to Book ie PB is 4.63. According to the data, its average target price is Rs 130. That is, there is a possibility of nine percent decline in it. But its one-year beta is 0.67, which suggests that it has a low downside risk.
Why is the stock rising
Experts say that its next resistance level can be Rs 151.70. If it breaks below Rs 128, then it may slide further down to Rs 106 in the near term. RVNL has recently formed a subsidiary company named Kinet Railway Solutions Ltd. RVNL has 25 per cent stake in it. Apart from this, the Russian company Metrowagonmash has a 70 percent stake and Locomotive Electronic Systems has a five percent stake. Also, RVNL has bagged a contract worth Rs 808 crore in Odisha from the National Highways Authority of India.
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