RVNL share price: RVNL shares zoomed 10 per cent to scale their upper circuit level during Saturday's special trading session. The rail PSU has recently incorporated subsidiary firm RVNL Infra South Africa. It has also formed a joint venture with Jakson Green Pvt Ltd to explore an opportunity in solar power projects.
Experts believe that the bullish momentum was supported by strong FII inflows and a narrowing current account deficit, both of which positively impacted investor sentiments.
RVNL share price: The counter's 14-day relative strength index (RSI) came at 84.49. A level below 30 is defined as oversold while a value above 70 is considered overbought. The company's stock has a price-to-equity (P/E) ratio of 16.84. It has a price-to-book (P/B) value of 3.54.
RVNL share price: Most railway counters saw a sharp upward move during the last two sessions after it was reported that Indian Railways would start production of advanced Vande Bharat trains by August this year.
RVNL share price: Last month, RVNL emerged as the lowest bidder for manufacturing cum maintenance of Vande Bharat trains along with Russia's Transmashholding (TMH) as a joint venture partner. TMH's company Metrowagonmash is based in Russia's Mytishchi.