Rail Vikas Nigam shares in news today, here's why 

Shares of state-run Rail Vikas Nigam Ltd (RVNL) are in news today after the firm said it has inked a MoU with Patel Engineering Limited. RVNL shares ended on a flat note at Rs 579.35 on BSE in the previous session. Total 13.91 lakh shares of RVNL changed hands amounting to a turnover of Rs 80.59 crore.

Market cap of RVNL stood at Rs 1.20 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 55.6, signaling it's trading neither in the overbought nor in the oversold zone. Rail Vikas Nigam shares stand higher than the 10 day, 50 day, 100 day, 150 day, 200 day but lower than the 5 day, 20 day and 30 day moving averages.      

"In terms of Regulation 30 read with part B of Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, RVNL has signed MoU with M/s Patel Engineering Limited," said the railway firm. 

The objective of the MoU is to cooperate and create an enabling framework for achieving synergies in the areas concerning Hydro and other infrastructure Projects and as when opportunities arise in India and Overseas, said RVNL. 

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.