If You Invested ₹15,000 In RVNL IPO, Here's How Much You'd Have Today

RVNL’s share price rocketed over 15% to hit a new all-time high of ₹345.90. The stock has been on an incredible rally over the past year. In just the last five sessions the stock has gone up over 27%. However, the PSU’s IPO did not generate a lot of buzz. Even the railway company’s listing was lacklustre. The stock listed at around ₹19 which was the IPO issue price. So what would have happened if you subscribed to the IPO in 2019.

The Investment: If you had applied for the RVNL IPO, you would have had to invest around ₹15,000 to secure around 780 shares. Today with the stock trading at around ₹340, those 780 shares would have been worth over ₹2.65 lakh.

See Also: ONGC Shares Gain As Strong Q4 Profit Defies Analyst Expectations

What’s Up With RVNL: The company’s net profit for the quarter was ₹478.40 crore, marking a 33% increase from ₹359.25 crore in the same quarter last year. Revenue from operations for the March quarter was ₹6,714 crore, up 17% from ₹5,720 crore in the corresponding quarter of the previous year. The order book stands at ₹85,000 crore.

The massive surge today was also aided by the company receiving a letter of acceptance from the South Eastern Railway for a ₹148 crore order. Post the results, domestic brokerage firm IDBI Capital maintained its “hold” rating for the stock with a price target of ₹303.

Price Action: RVNL’s share price was up 13.86% to trade at ₹341.25 on Tuesday afternoon.

Read Next: Railway Stock Jumps 4% As Profit Soars 34% In Q4

Disclaimer: Benzinga India doesn’t give financial advice. The above article is for educational purposes alone.

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Posted In: EquitiesMarketsRail Vikas Nigam