Rail Vikas Corporation has given loss to investors

stock market news

Mumbai-Government company Rail Vikas Nigam (RVNL) has given investors the deficit on the very first day of listing. The shares of the company have been dull listing in the stock market. The stock of the company is listed on the stock exchange at Rs. 19
Let me tell you that RVNL had issued its shares at the rate of 19 rupees during the IPO and the listing of its shares has also happened at the same price. That is, there is no benefit to investors who invest in it. RailNetwork, the public sector firm of Miniratna, had brought its IPO on March 29, which aimed to raise Rs 480 crore. On closing, it got only 1.39 times the subscription.
This company is in the business of several types of railway projects, such as construction of new lines, double line of railway lines, gauge conversion, railway electrification, construction of metro projects, workshop, bridge construction, construction of cable stations, many government projects including railway buildings . By December 2018, it had an order book of Rs 77,504 crore. Although the company is consistently profitable. Avivna Trades founder Shivendra Fauzdar has advised to invest in this long-term perspective.