Shares of Rail Vikas Nigam Ltd. extended gains for the third day to reach nearly one-month high on Tuesday.
The company signed a contract with the Airports Authority of India to build an underpass or subway to connect operational area to Airports Authority of India residential colony in Kolkata, the company said in the exchange filing.
Shares of the company rose as much as 7.20% to Rs 267.85 apiece, the highest level since Feb 28. It was trading 6.36% higher at Rs 265.75 apiece as of 11:09 a.m. This compares to a 0.27% decline in the NSE Nifty 50 Index.
The stock has risen 299.62% in the past 12 months. Total traded volume so far in the day stood at 2.5 times its 30-day average. The relative strength index was at 58.88.
Out of three analysts tracking the company, one maintains a 'buy' rating two recommend a 'hold', according to Bloomberg data. The average 12-month consensus price target implies an downside of 9.4%.
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