136% return in 6 months: This Indian Railways stock is poised to climb further - check price target | RVNL Share Price Target 2023

RVNL Share Price NSE, RVNL Share Price Target 2023: Shares of Rail Vikas Nigam Limited (RVNL) have yielded a whopping 136 per cent return to its shareholders in a short span of just 6 months. In perspective, RVNL share which was available at Rs 30.60 apiece on July 7, 2022, is now available at Rs 73. The one-sided rally in the stock's price has resulted in wealth gain for the investors of the Mini Ratna company under the Ministry of Railways.

At close on Friday, the scrip quoted Rs 72.40 apiece on NSE, up by 0.49 per cent from the previous close of Rs 72.05 apiece. The counter had opened at Rs 73.65, up by nearly 2.50 per cent but succumbed to the selling pressure amid a volatile trading session in the benchmark indices.

Also Read: Budget 2023: Why investors should keep an eye on railway stocks ahead of Union Budget

Zee Business panelist and market expert Kunal Saraogi said that RVNL has slipped into a consolidation phase after hitting 52-week of Rs 84.10 on November 29 last year. He said that there will be an action in the counter once it gives a breakout above Rs 75.  

RVNL Share Price Target 2023

Saraogi said that the stock can climb to a three-digit price soon and investors should buy on dips around Rs 66/67 apiece. 

Earlier on Thursday, RVNL informed that it has bagged a project worth Rs 166 crore from Gujarat Metro Rail Corporation (GMRC). The project is expected to be completed within 22 months.

RVNL was incorporated as a public sector undertaking for the development, financing and implementation of projects related to rail infrastructure.

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