Shares of Rail Vikas Nigam Ltd (RVNL) are in news today as the firm has signed MoU with Engineers India Limited (EIL). In the previous session, RVNL shares slipped 0.93% to Rs 521.65 on BSE. Total 7.20 lakh shares of RVNL changed hands amounting to a turnover of Rs 37.63 crore. Market cap of RVNL stood at Rs 1.08 lakh crore on BSE. RVNL shares have a one-year beta of 1.3, indicating high volatility during the period.
In terms of technicals, the relative strength index (RSI) of RVNL stands at 39.6, signaling it's trading neither in the overbought nor in the oversold zone. Rail Vikas Nigam shares are trading lower than the 5 day, 10 day, 20 day, 30 day, 50 day, but higher than the 100 day, 150 day and 200 day moving averages.
The main objectives of the MoU are:
a. Parties will co-operate to explore business avenues identify projects across the globe complementing each other in partnership resulting in increased capability for bidding and carrying out Infrastructure and other projects of mutual interests.
b Share relevant information with the aim of identifying market needs and dovetailing it with capabilities of Parties, establish a working relationship with each other targeting specific industry needs,
c. Facilitate the development of business proposals including exploring Engineering Procurement Construction (EPC) opportunities arising at various Govt, Semi-Govt, Autonomous Bodies or Authorities/ Private Entities/ Multilateral Funding Agencies across the globe.
RVNL is an executing arm of Indian Railways and works for and on behalf of the ministry for projects assigned to it for execution. It works on a turnkey basis and undertakes the full cycle of project development from conceptualisation to commissioning including stages of design, preparation of estimates, calling and award of contracts, project and contract management.