Rail Vikas Nigam Sees Second Consecutive Block Deal

Shares of Rail Vikas Nigam Ltd. (RVNL) opened at Rs 587 on Tuesday and quickly surged, reaching an intraday high of Rs 619. This notable performance was accompanied by substantial trading activity, marking another large transaction in the stock.

Major Block Deal Highlights

On Tuesday, a significant volume of 1.4 crore shares, worth Rs 827 crore, was traded on the stock exchanges. This block deal represented 0.7% of the company’s total equity, with shares changing hands at an average price of Rs 585 per share. Notably, the identities of the buyers and sellers involved in this transaction remain undisclosed.

Consistent Trading Activity

This marked the second consecutive day of substantial trading in RVNL shares. On Monday, a similar block deal saw 1.5 crore shares, or 0.8% of the company’s total equity, change hands. This transaction was valued at Rs 806 crore, with shares traded at an average price of Rs 560 per share.

Government Stake and Shareholding Pattern

As of the March quarter, the government holds a 72.84% stake in Rail Vikas Nigam Ltd. The shareholding pattern for the June quarter is yet to be updated.

Impressive Stock Performance

The shares of RVNL have shown remarkable growth, gaining 34.29% in July alone. For the year 2024, the stock has surged by an impressive 209%. This growth trajectory has led RVNL to cross the Rs 1 lakh crore mark in market capitalization on Friday, making it only the second railway stock after IRFC to achieve this milestone. Currently, the stock boasts a market capitalization of Rs 1.22 lakh crore.

Conclusion

Rail Vikas Nigam Ltd. has demonstrated substantial growth and significant trading activity, reflecting strong investor interest and confidence. The consistent large trades and impressive stock performance underscore the company’s robust position in the market. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. The information is based on various secondary sources on the internet and is subject to change. Please consult with a financial expert before making investment decisions.