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.

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

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).

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

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

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

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.

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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