Shares of Rail Vikas Nigam Ltd rose over 3% on Friday after the company emerged as the lowest bidder for a project worth ₹111.85 crore.
According to the company's exchange filing, it has been selected as the lowest bidder to supply, install, test and commission 11 KV Line associated works such as 11 KV Line bifurcation, 11 KV Line interconnection, 11 KV Line conductor augmentation, LT AB cabling augmentation and conversion of LT Bare conductor in Sidhi, Singrauli, Sagar, Damoh, Chhatarpur, Panna and Tikamgarh Circles of MPPKVVCL, Jabalpur company area.
The stock gained 119.28% from its 52-week low of ₹29.0 recorded on June 20, 2022. The stock price rose 92.5% and outperformed its sector by 75.3% in the past year.
The stock hit an intraday high of ₹64.60 and low of ₹63.50 on Friday, as of 11:31 IST.
According to analysts, there's no major view on this space as recently the stock's volume has dried down. ₹61- ₹70 is the immediate trading range.