new Delhi. Rail Vikas Nigam (RVNL) has announced an interim dividend of ₹ 1.58 per share (ie 15.80%) per share of Rs 10 for the financial year 2021-22. Shares of Rail Vikas Nigam closed at Rs 33.15, down more than 1% on the National Stock Exchange (NSE) on Wednesday.
The share of Rail Vikas Nigam Limited made a high of Rs 44.80 on 25 October 2021. After that this stock has been slipping continuously. The stock had made a low of Rs 10 on 24 March 2020 (Corona period).
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The company announced that the record date for determining the shareholder’s eligibility for payment of interim dividend has been fixed as Friday, March 25, 2022. The company said that the interim dividend payment will be completed on or before April 14, 2022.
Shares fell up to 7% this year
In 2022 (Year to Date or YTD), this PSU Railway stock has declined by around 7% so far, while the stock has gained over 8% in a span of one year. Rail Vikas Nigam Limited is a PSU company involved in the construction of rail infrastructure. The government has a 78.2% stake in the railway company as of December 31, 2021.
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Rail Vikas Nigam’s consolidated net profit for the third quarter (Q3) grew 4% to ₹293 crore, while its sales grew by 35% year-on-year (YoY) to ₹5,049 crore for the quarter ended December 2021.
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