Rail Vikas Nigam Share Price; Strong Possibility of Growth for Long Term Investors

Photo- Daily Chart of RNV (NSE) as on 19-01-2024

Strong Possibility of Growth for Long Term Investors

Multibagger stock: RVNL shares rose 18.44% to Rs 288.65. Market cap of RVNL stood at Rs 59,256 crore on BSE.

Unlock the Gateway to Wealth with Rail Vikas Nigam Ltd!

Embark on a journey to financial prosperity as Rail Vikas Nigam Ltd (RVNL) takes center stage with an astonishing 414% surge from its 52-week low! Seizing the spotlight at a record high of Rs 288.65, RVNL shares have become a beacon of opportunity for long-term investors.

In the last nine days alone, the railway sector stock has catapulted an impressive 58%, sending shockwaves through the market. With a current relative strength index (RSI) standing tall at 88.9, RVNL is undeniably overbought, signaling a strong possibility of sustained growth.

Trading at Rs 284.55 and boasting a market cap of Rs 59,256 crore, RVNL is not just a stock; it's a multibagger waiting to unfold. Bucking the trend, RVNL shares are cruising above the 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day moving averages, painting a picture of undeniable strength.

Prabhudas Lilladher's Technical Research Analyst predicts an ongoing upward trajectory for RVNL, with potential targets soaring to Rs 254-282 levels in the days to come. The firm's resilience is evident as it reported a 3.4% rise in Q2 profit, reaching Rs 394.3 crore, and a remarkable 15% sequential increase in net profit.

RVNL, the executing arm of Indian Railways, operates on a turnkey basis, overseeing projects from conception to commissioning. With a solid near-term support at Rs 212 and a decisive breach below Rs 202 weakening the trend, RVNL is a strategic investment poised for long-term gains.

Are you ready to ride the wave of success with Rail Vikas Nigam Ltd? 

Disclaimer : Information provided by JSL Times is for informational purposes only. Seek advice from a qualified financial advisor before making investment decisions.