Shares of Rail Vikas Nigam Ltd (RVNL) surged 7.32 per cent to hit a one-year high of Rs 146.65 in Monday's trade.

RVNL's stock has gained an impressive 111 per cent on a year-to-date (YTD) basis and an astounding 368 per cent over the past year.

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RVNL established its solely-owned subsidiary, 'Kinet Railway Solutions Ltd', with strategic stake distribution among key stakeholders.

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The company received a prestigious letter of award (LOA) worth Rs 808 crore for an infrastructure project from the National Highways Authority of India (NHAI).

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Technical analysis indicates support levels at Rs 132, Rs 130, Rs 128, and Rs 120, while the stock remains overbought in the near term.

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Expert analysts from Angel One and Prabhudas Lilladher have a positive outlook, emphasizing the bullish trend and potential for further rise.

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However, AR Ramachandran from Tips2trades advises caution due to overbought conditions and potential support levels at Rs 128.

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RVNL's stock trades above the 5-day, 20-, 50-, 100-, and 200-day moving averages, with a 14-day RSI of 80.55, suggesting overbought territory.

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The stock has a price-to-earnings (P/E) ratio of 22.47 and a price-to-book (P/B) value of 4.63, presenting a balanced valuation picture.

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