Stocks

Rail Vikas Nigam shares make tepid debut; end flat

PTI New Delhi | Updated on April 11, 2019 Published on April 11, 2019

Shares of Rail Vikas Nigam Ltd (RVNL) made a tepid market debut on Thursday and closed flat against the issue price of ₹ 19.

The scrip had opened the day flat at ₹19 on BSE. Intra-day, it touched a high of ₹19.75, up 3.94 per cent from the issue price. It had also hit a low of ₹18.60, 2.10 per cent lower in intra-day trading.

Shares of the company finally ended at ₹19.05, up 0.26 per cent.

At NSE also, shares closed at ₹19.05.

On the traded volume front, 111.52 lakh shares were traded on BSE and over 8 crore shares on NSE during the day.

The company’s market valuation stood at ₹3,971.96 crore on BSE.

Its ₹480-crore initial public offer was subscribed 1.8 times earlier this month and price range for the issue was fixed at ₹17-19 per share.

RVNL is in the business of executing all types of railway projects, including new lines, gauge conversion, railway electrification, metro projects, major bridges and construction of cable stayed bridges.

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Published on April 11, 2019
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