RVNL Now Valued Higher Than IRCON, RITES, Jupiter Wagons And Titagarh Combined

RVNL‘s shares rocketed in morning trade, going up over 9% to hit a new all-time high of ₹619.

What Happened: With this massive surge, the company’s market capitalisation surged past the ₹1.20 lakh crore mark, making it one of the biggest railway companies in the country. It is now also the 78th biggest listed company in the country in terms of market cap.

The railway infra major is now valued higher than several of its peers including IRCON, RITES, Titagarh Rail Systems, Texmaco Rail and Jupiter Wagons. At its current valuation, RVNL is also now worth more than all the above companies combined.

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IRCON’s and Jupiter Wagons’ market caps are both around ₹30,000 crore. Titagarh Rail’s market cap is currently about ₹24,000 crore, whereas RITES is valued at around ₹18,000 crore.

The smallest among these is Texmaco Rail, with a market cap of around ₹9,000 crore. Put together, their market cap works out to be ₹1.11 lakh crore — around ₹9,000 crore short of RVNL’s at current levels.

Price Action: The multibagger railway stock saw some moderation after a surge in the morning. RVNL’s share price was up 1.23% to trade at ₹572.85 in early trade on Tuesday.

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Posted In: EquitiesNewsMarketsMoversTrading IdeasRail Vikas Nigam