Rail Vikas Nigam jumps 4% on MoU with Kyrgyz Republic for railway corridor projects

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#Buzzing Stocks, Rail Vikas Nigam

Rail Vikas Nigam‘s shares jumped over 4 percent to Rs 35.05 on December 1 after company signed a memorandum of understanding for the development of railway corridor projects in Kyrgyz Republic.

Rail Vikas Nigam has entered into an MoU with Economic Policy Research Institute of KYRGYZ Republic, Government of Kyrgyzstan, for development of railway corridor projects in Kyrgyz Republic specially to connect from Bishkek to Karakechenskoye,” the company said in a release.

Both parties will exchange information and promote the implementation of the railway project.

At 09:37 hrs, Rail Vikas Nigam was quoting at Rs 34.55, up Rs 1.00, or 2.98 percent on the BSE.

The stock hit a 52-week high of Rs 44.75 and a 52-week low of Rs 19 on 25 October, 2021 and 21 December, 2020, respectively.

Currently, it is trading 22.79 percent below its 52-week high and 81.84 percent above its 52-week low.

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