RVNL Share Price: Multibagger stock in making? Stock market experts give 'shares to buy today' tag
RVNL Share Price: After hitting below Rs 30 per stock mark and making a close at Rs 29.75 on 23rd February 2021, Rail Vikas Nigam Limited (RVNL) shares have been able to sustain above Rs 30 mark.
RVNL Share Price: After hitting below Rs 30 per stock mark and making a close at Rs 29.75 on 23rd February 2021, Rail Vikas Nigam Limited (RVNL) shares have been able to sustain above Rs 30 mark. As per the stock market experts, Indian Railways is the major customer of the RVNL and the order book of the company looks highly strong for the next two years. They said that RVNL is one of those 'shares to buy'. They said that one can keep on accumulating the stock from RVNL share price at today's levels till Rs 25-26 per stock levels. In next one to two years RVNL share price target seems around Rs 55 to 60, they said.
Speaking on the valuations of the RVNL shares, Atul Karwa, Fundamental Research Analyst at HDFC Securities said, "Looking at the strong prospects we believe the RVNL stock is available at reasonable valuation. We feel investors can buy the stock on dips in the Rs 29-30 band and add further in the Rs 25-26 band for base case target of Rs 33 and bull case target of Rs 35. However, stake sale by the Government (to bring down its stake to 75 per cent) would remain an overhang for the RVNL share price in the near term."
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On RVNL share price target in long-term time horizon Avinash Gorakshkar, Head of Research at Profitmart Securities said, "RVNL has reported strong December quarter numbers and its order book is at around Rs 3,500 crore that is expected to go in the northward direction as Indian Railways is its major customer. Once, Indian Railways will become operational to its 100 per cent strengths, RVNL order book is expected to shoot up further and hence, the 4th quarter result of RVNL is expected to remain a further morale booster for the stock market investors."
On what should be the investment strategy in regard to RVNL share price Avinash Gorakshkar said that one can buy RVNL shares at around Rs 30 for the target of Rs 55 to Rs 60 in next one to two years.
On money making strategy that an investor can follow while taking any position in RVNL stocks; SEBI registered technical equity analyst Simi Bhaumik said, "RVNL share price today is at Rs 31.50 (12:00 noon, 10th March 2021) and it has immediate support at Rs 25 to Rs 27 range. One should start accumulating RVNL shares from current levels to around Rs 26 maintaining the stop loss below Rs 25. The immediate target for RVNL shares is Rs 35 to Rs 36 and after breaking this resistance, it would soon hit Rs 40 plus target in the medium-term time horizon. In the long-term time horizon, the RVNL share price is expected to go beyond Rs 50 per stock levels."
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