Comments
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.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.