RVNL shares hit all-time high: Should you buy, sell or hold? Here's what expert suggests
RVNL Share Price Today News: Earlier in May, central public sector enterprise Rail Vikas Nigam Limited (RVNL) under the Ministry of Railways was granted a 'Navratna' status.
RVNL Share Price Today News: Shares of Rail Vikas Nigam Limited (RVNL)(RVNL) jumped as much as 17.68 per cent on Monday to hit an all-time high of Rs 191.65 on the National Stock Exchange (NSE). The scrip had settled at Rs 162.85 on the previous close i.e. on Friday. According to NSE data, 13,73,94,482 shares of the civil construction company had exchanged hands at the time of writing the report.
RVNL Share Price Today: Should you buy, sell, or hold?
In the last five days, the scrip has jumped over 16 per cent. So far this year, shares of RVNL have made investors wealthier by over 170 per cent. If we talk about one year, it has given a multibagger return of over 442.50 per cent.
Considering this, is this a good time for investors to sell this stock?
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G Chokkalingam, Founder and Managing Director of Equinomics Research suggests that now is the best time to book profit in this stock.
"We are seeing a rally in almost all PSU and railway stocks. I think it is the best time to book profits in small-cap stocks, including RVNL. One can buy large-cap stocks with this profit," Chokkalingam told Zee Business.
Earlier in May, central public sector enterprise Rail Vikas Nigam Limited (RVNL) under the Ministry of Railways was granted a 'Navratna' status. Rail Vikas Nigam Limited was incorporated as a PSU on January 24, 2003, with the objective of implementing projects relating to the creation and augmentation of rail infrastructure capacities.
Meanwhile, shares of Indian Railway Finance Corp (IRFC), the dedicated funding arm of Indian Railways, hit a 10 per cent upper circuit soon after the opening bell on Monday. Besides IRFC, RITES, Railtel Corporation of India, and Titagarh Rail Systems were trading with gains in the range of 3–9 per cent at the time of writing this report.