RVNL shares in focus ahead of Q1 results, up nearly 4% from day's lows

Ahead of the results, RVNL's stock plunged during the early trading hours. Shortly after the opening bell, the shares touched a low of ₹555.65 apiece on the National Stock Exchange (NSE), which was down 1.2% as against the previous session's close.

However, the shares recovered and traded in the green during afternoon trading. At around 12:10 pm, the scrip peaked to ₹581.8 apiece on the NSE, which was up 2.8% from the last closing price. As compared to the day's low, the shares jumped nearly 4%.

Notably, RVNL is seen among the most shining stocks with a year-to-date return of around 220%. Over the past 12 months, the shares have risen by more than 360%. However, over the past one month, the shares climbed modestly by around 1.6%.

The company is expected to post strong results for the first quarter, in the backdrop of major deal wins. The rail PSU has consistently been bagging contracts for several construction projects.

RVNL was also in the news last week, after it secured a ₹739 crore project from the Himachal Pradesh State Electricity Board Limited (HPSEBL).

“It is hereby informed that Rail Vikas Nigam Limited emerges as the Lowest Bidder (L1) for “Development of Distribution Infrastructure at Central Zone of Himachal Pradesh under the Revamped Reforms-based and Results-linked, Distribution Sector Scheme [Loss Reduction Works] declared by HPSEBL," it stated in a regulatory filing on July 30.