RVNL Shares Rise Over 7% To Four-Month High After Large Trade
As many as 11.2 lakh shares, or 0.1% of its equity, changed hands in a large trade.
The Rail Vikas Nigam Ltd. stock surged over 7% on Wednesday to the highest in nearly four months after its shares changed hands in a large trade.
As many as 11.2 lakh shares, or 0.1% of its equity, changed hands in a large trade, according to Bloomberg data. The buyers and sellers were not known immediately.
On the NSE, RVNL's stock rose as much as 7.5% during the day to Rs 199.20 apiece, the highest since Sept. 12.
The total traded volume stood at 3.1 times its 30-day average. The relative strength index was at 72.28, implying that the stock may be overbought.
One out of three analysts tracking the company has a 'buy' rating on the stock, while two recommend 'hold', according to Bloomberg data. The average of 12-month analyst price targets implies a potential downside of 16.7%.
Shares of RVNL closed 6.53% higher at Rs 197.40 apiece, as compared with a 0.34% advance in the benchmark Nifty 50.
