Railway stocks: The shares of Rail Development Corporation Limited (RVNL) suffered a shock on the weak result of the December quarter. The company’s profit fell more than 13 per cent in the December quarter. The company shared on this shock and today it broke over 7 percent in intra-day. There was a purchase at a lower level but it is still in a very weak situation. Today it has closed at Rs 342.60 at Rs 342.60 on BSE. It fell 7.33 per cent to Rs 333.60 in intra-day.
How was the December quarter for RVNL?
In the December quarter, Rail Development Corporation’s consulted net profit fell 13.14% to ₹ 311.44 crore on an annual basis. During this period, revenue also fell 2.60% to ₹ 4,567.38 crore. However, during this period the cost of the company fell 2.27% to ₹ 4,480.08 crore. Talking about the nine-month period April-December 2024, the net profit of the Railway Development Corporation fell 24.96% to ₹ 822.41 crore and the revenue 11.06% slipped to ₹ 13,496.14 crore.
How is the status of shares?
The Rail Development Corporation shares gave about 204 per cent returns in four months last year, that is, the capital of investors increased by more than three times in four months. Last year, on 14 March 2024 it was at Rs 213.00, which is a one year low for its shares. It jumped 203.76 per cent in four months from this lower level to Rs 647.00 on 15 July 2024, which is a record high for its shares. However, the shares stopped here and currently it is about 47 per cent downside from this record high. Now, if we talk further, according to the data on the trendline, its average target is Rs 357. Two analysts have given it a cell rating.
Its relative strength index (RSI) is currently at 37.3, which means oversold to go below 30 while going above 70 means overbot. At the same time, the MACD (-7.8) is under its signal line and center line, which is indicating strong disgrace. Currently, this stock is 5-day, 10-day, 20-days and 30-days, 50-days, 100 days, 150-days and 200-days simple moving averages (SMAS) Which is the Bayresh signal.
Liquor Stocks: American whiskey launched a huge decline in shares of united brewers and united Spirits
Disclaimer: Advice or idea experts/brokerage firms on Moneycontrol.com have their own personal views. The website or management is not responsible for this. Moneycontrol advises to users that always seek the advice of certified experts before taking any investment decision.