Analyst sees consolidation despite RVNL's order wins
Shares of Rail Vikas Nigam (RVNL) pared early gains on Tuesday after the company announced it had emerged as the lowest bidder (L1) for a Southern Railway project worth ₹145.35 crore. Despite steady order wins, analyst Varunkumar Patel cautioned that RVNL trades at elevated valuations, with a price-to-earnings multiple near 62.