Railway Stock Continues Hitting All-Time Highs: Here's Why

RVNL‘s share price continued to make gains for the seventh straight session on Wednesday going up over 5% to hit a new all-time high of ₹235.

What Happened: The railway firm has announced establishing a joint venture with Jakson Green Private Limited, aimed at exploring opportunities in solar power projects both in India and internationally.

In this collaboration, Jakson Green Private Limited will hold the majority stake with 51%, while RVNL will possess a 49% stake. The joint venture is strategically focused on advancing green clean energy projects, aligning with the growing emphasis on sustainable and environmentally friendly initiatives.

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As part of its expansion efforts, RVNL has also incorporated a subsidiary company, RVNL Infra South Africa, the company informed in an exchange filing on Tuesday evening.

Shares of the railway stock have been on a tremendous bull run. The recent rally has been powered by optimism ahead of the budget and consistent order inflow. Earlier this week the company announced bagging a ₹251 crore from MP Madhya Kshetra Vidyut Vitran Co.

Price Action: RVNL’s share price was up 4.74% to trade at ₹234.15 in early trade on Wednesday.

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