Home PENNY STOCK This Penny Stock has formed a joint venture for an international project

This Penny Stock has formed a joint venture for an international project

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This Penny Stock has formed a joint venture for an international project

 With Kyrgyzindustry – OJSC, Rail Vikas Nigam Limited (RVNL) has established a joint venture company. Kyrgyzindustry-RVNL, the joint venture, is a closed joint stock company (CJSC). Construction of a railroad and other infrastructure projects in the Kyrgyz Republic are the reasons for engaging into the agreement.

The business has previously been designated the winning bidder for the development of UTF (Uthuru Thila Falhu- Island) Harbour, a global project in the Maldives.

The Government of India incorporated Rail Vikas Nigam Limited in 2003. It is in the business of putting numerous rail infrastructure projects into action. The corporation primarily focuses on building new train lines, infrastructure, and gauge changes.

The firm reported sales of Rs 4,909 in Q2FY23, up 21.94% year over year. PAT was Rs 381 crore, up 36.56 percent year over year and 27.85 percent quarter over quarter.

The stock’s opening price today was Rs 66.35, and its high and low were Rs 70.75 and Rs 66.00. Previous trading for the shares ended at Rs 67.40. It is currently up 4.75 percent, trading at Rs 70.60.

The company’s shares have returned 131.42 percent over the past six months, while the stock has returned 100.28 percent year to date.

The stock’s 52-week range includes a high of Rs 84.15 and a low of Rs 29. The firm has a market value of Rs 14,720.24 crore and a ROCE and ROE of 16.8% and 19.7%, respectively.

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