Shares to buy today: RVNL share price dips before Q1 results today. Is this a stock to buy?

RVNL share price: Shares of Rail Vikas Nigam Limited (RVNL) witnessed some selling pressure in early morning deals on Thursday. The company's board of directors has declared they will discuss and approve the unaudited financial Q1 results today for 2024-25. According to stock market experts, the railway sector company is expected to declare strong Q1 results in 2024 on Thursday, as infrastructure sector companies are expected to deliver solid quarterly numbers. Being an infra sector company, they expect growth in order book due to the Government of India's (GoI's) focus on infrastructure. They also said there is enough liquidity in the market to meet the rising business volume.

RVNL Q1 results 2024 preview

Regarding RVNL Q1 results for FY25, Seema Srivastava, Research Analyst at SMC Global Securities, said, “I am expecting positive quarterly results from the RVNL as railway and infrastructure companies are expected to deliver strong quarterly numbers due to strong order book. They are expected to register sustained growth in their business as there is enough liquidity in the market to meet the rising order book of these companies. So, RVNL, being a flagship railway sector company, is expected to benefit from the GoI's focus on the infrastructure sector.”

RVNL share price target

With the continuation of the bull trend in RVNL share price expected, Sumeet Bagadia, Executive Director at Choice Broking, instilled confidence, saying, “RVNL share price is looking positive on the technical chart pattern. The railway stock has strong support at ₹530 but faces a hurdle at ₹600. On breaching above ₹600, RVNL share price may touch ₹630 in the near term. So, RVNL shareholders can be confident in holding RVNL shares for the near-term target of ₹630.”

On the suggestion to fresh investors, Bagadia said, "Fresh investors can buy RVNL shares and maintain a buy-on-dips strategy until the stock is above ₹530. They are advised to maintain a stop loss at ₹530 and review their position once it touches the ₹630 per share mark."

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