RVNL Share Price 24 February 2024 📈
On Thursday, there was a significant up and down trend in the share market. In this environment, some penny stocks saw a rapid increase. One such penny stock is Salasar Techno Engineering Limited. The reason for the rise in the share price is the positive news related to the company.
Salasar Techno Engineering Limited and Rail Vikas Nigam Limited’s joint venture RVNL has received an order worth Rs 174 crore from Madhya Pradesh Power Transmission Company. Under this, construction of 132 kV and 220 kV transmission lines is to be done. The joint venture has emerged as the lowest bidder for this project. RVNL has informed the Indian stock markets about this. The company has said that it has to complete this order for Madhya Pradesh Power Transmission in 18 months. In the joint venture, RVNL has a 51% stake and Salasar Techno Engineering has a 49% stake.
On the fourth business day of the week, Salasar Techno Engineering Limited’s share closed at Rs 24.35 with a 3.57% increase. During the trading session, the share touched a high of Rs 24.48. On February 7, the share had reached a 52-week high of Rs 34. The market capitalization of the company is Rs 3,843.71 crore.
RVNL’s share closed at Rs 261.55 at the end of the trading on Thursday with a slight increase. Over the past few years, RVNL’s shares have provided investors with multibagger returns. In a one-year period, the stock has increased by 320%, while in a two-year period, the return is over 700%.
Disclaimer: This is News Coverage with Opinions of Experts and Should Not Be Taken as Direct Market Buying Tip. Market is always subject to risk. We recommend taking our content as research before investing.
