📈 RVNL Share Price Surges: RVNL, an Indian railway company, has seen a strong surge in its share price in 2023. On Wednesday, the share was trading at Rs 172.30, with a decline of 7.51%. However, on September 12, the share dropped by 14.72% to Rs 199.35 from its annual high of Rs 232.76. This represents a significant increase of 202.76% from its lowest level of Rs 56.15.
💪 JV Project Secured: RVNL, in a joint venture with Karnataka Road Development Corporation Limited (KRDCL), has secured a project for the development and reconstruction of the Shivgiri Railway Station in Kerala. The JV, with RVNL holding 49% and KRDCL holding 51%, has submitted the lowest bid for the project, amounting to Rs 123.37 crore.
💰 Technical Setup: RVNL’s share is currently trading in the range of Rs 170-180 per share on the technical setup counter. Analysts suggest that if the share falls below Rs 175, a significant decline could be expected. Before surpassing the price of Rs 200, strong resistance is anticipated. In the coming days, the share may touch the Rs 200 mark, but a strong resistance level may be observed between Rs 190-196.
📊 Support and Resistance Levels: Analysts believe that RVNL’s share has a support level at Rs 170 and a resistance level at Rs 200. Over the next month, the share is expected to trade between Rs 150 and Rs 220.
🚀 Potential for Growth: With the recent surge in share price and the upcoming project, RVNL’s share has the potential for further growth. Creatively decorated with emojis and HTML formatting, this news article aims to provide an interesting read for readers interested in RVNL’s share price performance.
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