Multibagger railway stock in news today, here's why

Shares of Rail Vikas Nigam Ltd (RVNL) are in news today after the railway firm said it has incorporated a wholly owned subsidiary company in Saudi Arabia on October 18 this year. The multibagger railway stock slipped 2.42% on Monday to end at 465.65 on BSE.  Total 1.60 lakh shares of RVNL changed hands amounting to a turnover of Rs 7.51 crore. Market cap of RVNL slipped to Rs 97,088 crore on BSE. RVNL shares have a one-year beta of 1.4, indicating high volatility during the period.         

In terms of technicals, the relative strength index (RSI) of RVNL stands at 36.3, 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 and 100 day but higher than the 150 day and 200 day moving averages. RVNL stock has logged multibagger returns of 1188% in two years and risen 177% in a year. 

"It is hereby informed that, Rail Vikas Nigam Limited (RVNL) has incorporated a Wholly Owned Subsidiary Company “Company Rail Vikas Nigam Ltd. (ONE PARTNER)” in Saudi Arabia on 18.10.2024. The Certificate of Registration of the Company received on 21.10.2024," 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. 

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.