Home / Markets / Stock Markets /  Indian Railways' PSU stock nearly doubles shareholders' money in one month. Buy, sell or hold?
Back

Indian Railways' PSU Rail Vikas Nigam Limited or RVNL shares have been in uptrend for near one month. This Mini Ratna company stock has almost doubled shareholders' money in last one month as RVNL share price has shot up from around 40 to 75 apiece levels, delivering to the tune of near 90 per cent return in this time horizon. However, stock market experts are still bullish on the RVNL scrip as they are expecting this stock get benefit of pre-budget rally in next two months.

According to stock market experts, RVNL is among the companies that deals in rail infrastructure sector. They said that market is expected the upcoming union budget to be an infra-focused budget and the Finance Minister Nirmala Sitharaman may announce some major rail infra project in budget 2023. Hence, market is highly bullish on RVNL shares and they said that the stock may continue to trend upside with some pauses caused by profit-booking trigger. They said that RVNL share price may go up to 100 ahead of the union budget presentation.

Speaking on the reason for continuous rise in RVNL share price, Manoj Dalmia, Founder & Director at Proficient Equities said, "RVNL shares are in uptrend amid market buzz that Finance Minister Nirmala Sitharaman may announce some big rail infrastructure project in upcoming budget 2022. As RVNL works in rail infra sector, this can be one of the beneficiary companies of union government's special focus on rail infra sector in the budget 2023."

Advising RVNL shareholders to hold the stock for pre-budget rally, Ravi Singhal CEO at GCL Securities said, "RVNL share price is expected to go up to 100 apiece levels ahead of budget 2023. However, there would be some profit-booking trigger as well. As the stock has taken a pause today, it may go further down. So, my advice for RVNL shareholders is to accumulate the stock on every big dip for near 100 target ahead of budget 2023."

On suggestion to fresh investors, Manoj Dalmia of Proficient Equities said, "Fresh investors can start accumulating RVNL shares from 70 to 60 maintaining stop loss below 60 and hold the stock for pre-budget rally."

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.

ABOUT THE AUTHOR

Asit Manohar

Chief Content Producer at Live Mint Digital Team
Know your inner investor Do you have the nerves of steel or do you get insomniac over your investments? Let’s define your investment approach.
Take the test
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less

Recommended For You

GENIE RECOMMENDS

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started

Trending Stocks

×
Get alerts on WhatsApp
Set Preferences My ReadsWatchlistFeedbackRedeem a Gift CardLogout
x