Updated Mar 8, 2025 16:55 IST
Buy or sell RVNL shares after back-to-back order win? (Pic: ET NOW)
RVNL in a filing said that it has received Letter of Acceptance from South Western Railway for engineering, procurement and construction (EPC) for design, supply, erection, testing, commissioning of 2X25 KV OHE & PSI system (TSSs & SPs & SSPs) including electrical general services, engineering & telecommunication works between Rayadurga Topavagada of TK-RDG section. The order will be executed in 18 months.
Prior to this, the company on Wednesday won an order worth Rs 729 crore for the development of distribution infrastructure in the Central Zone of Himachal Pradesh under the Revamped Reforms-Based and Results-Linked Distribution Sector Scheme.
Speaking on the performance of RVNL shares, market expert Sneha Seth said that RVNL shares have fallen sharply in the last 6 months and she would recommend HOLD for now given that the stock has already corrected. RVNL shares on Thursday (March 6) closed at Rs 337.55 on NSE.
“RVNL shares have a strong zone from Rs 300 to Rs 305. As long as RVNL shares sustain above Rs 300, I see no sign of worry. RVNL shares have taken support on both the weekly and monthly charts,” the market expert said.
“My recommendations is to HOLD on RVNL shares. RVNL shares should decisively move above Rs 385-388 to continue the buying momentum. For now, stay invested in RVNL shares with a strict stop loss at Rs 300,” the market expert added.
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