RVNL Shares Drop 4%: Buy, Sell, or Hold?
Rail Vikas Nigam Limited (RVNL) ke shares 26 May ko 4% se zyada gir gaye, jab company ne 31 March 2026 ko khatam hone wali quarter ke liye apne financial results ghoshit kiye. Is din stock ₹263.95 par khula, jabki pichle din ka close ₹271.10 tha. Intraday low ₹261.05 tak bhi gaya.
RVNL ne Q4 FY26 aur poore saal FY26 ke earnings ka ghoshan kiya, jo mixed results dikhata hai. Revenue mein 4.2% ki vriddhi ke saath ₹6,696 crore ka operational revenue report kiya gaya, lekin net profit 59% ghatkar ₹187 crore ho gaya, jo pichle saal ke ₹455.4 crore se kafi kam hai.
Company ka EBITDA ₹268.5 crore tha, jo pichle saal ke ₹436.1 crore se 38.4% ghat gaya. EBITDA margin bhi 6.8% se gir kar 4% tak aa gaya. Iske saath, company ne FY26 ke liye ₹0.71 ka final dividend ghoshit kiya, jo shareholders ki manzoori par adharit hai.
Seema Srivastava, Senior Research Analyst at SMC Global Securities, kehti hain ki RVNL ek structurally positive play hai jo India ke railway aur infrastructure capex story par long-term mein accha rahega. Company ko railway modernization, electrification, aur connectivity expansion par strong government spending ka fayda mil raha hai. Lekin, margin pressure aur inconsistent earnings performance ke chinta abhi bhi bani hui hai, jo stock ko volatile rakh sakta hai.
Srivastava ne long-term investors ke liye RVNL ko hold ya gradual accumulation ka candidate bataya hai. Unhone kaha ki naye investors ko lump-sum investment karne se bachna chahiye jab tak profitability aur margins mein consistent improvement nahi hota.
Technical outlook par Anshul Jain, Head of Research at Lakshmishree, kehte hain ki RVNL ne aakhri 90 hafte mein 61% se zyada correction dekha hai, jo ek prolonged downtrend dikhata hai. Stock ab 272 zone ke aas-paas higher low banane ki koshish kar raha hai, jo base formation ke prarambhik sanket de raha hai. Lekin, broader structure tab tak weak rahega jab tak clear higher high 310 level ke upar confirm nahi hota.
Stock agar 310 ko reclaim nahi karta, toh agle kuch hafte mein stock ke aur girne ki sambhavana hai. Price action ab bearish structure mein consolidation dikhata hai, na ki kisi confirmed reversal ko. Is wajah se, investors ko caution ke saath apne decisions lene chahiye.
