Shares of Rail Vikas Nigam Limited, or RVNL, are getting a lot of attention today. The company announced that they won a big bidding opportunity for a project worth ₹137.16 crore. This project is for building and maintaining a traction substation along the Bhusaval-Khandwa railway sections.
According to RVNL, they are the lowest bidder, which means they offered the cheapest price for this work. They will be in charge of designing, supplying, setting up, testing, and making sure everything works perfectly for the railway. RVNL is expected to finish this project in about 12 months.
In the past year, RVNL shares have jumped by 125%, but over the last six months, they have dropped by about 23%. The stock was recently priced at ₹409.10. Currently, its position is not very strong, as it is below several important moving averages, and its relative strength indicator (RSI) is around 32, which is a mid-range level.
In summary:
– RVNL is working on a big railway project.
– Shares have had a great year but fell in the last 6 months.
– The project will take about 12 months to complete.
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