📷 Image Credits: CNBCTV18
Shares of Rail Vikas Nigam Limited (RVNL) witnessed a significant spike as they hit a record high on Tuesday, fueled by a massive block deal amounting to ₹827 crore. The stock soared to a new 52-week peak of ₹619 before experiencing a slight downturn later in the day, ultimately trading 4.07% lower at ₹542.85. This latest transaction involved the exchange of 1.4 crore shares of the railway PSU, accounting for 0.7% of the total equity, at an average price of ₹585 per share. Interestingly, the details of the buyers and sellers in this substantial trade remain undisclosed. Notably, this marks the second consecutive day of such high-value trading activity in RVNL, with Monday witnessing a turnover of ₹806 crore. The government currently holds a 72.84% stake in Rail Vikas Nigam as of the March quarter, with the June quarter shareholding data pending update. Moreover, RVNL, a Navratna PSU under the Ministry of Railways, achieved a significant milestone by crossing a market capitalization of ₹1.22 lakh crore. With its shares reaching an intraday high of ₹620 and trading 1.3% higher at ₹574 on NSE, RVNL continues to draw investor interest amidst its impressive market performance.
