Shares of Navratna PSU Rail Vikas Nigam Ltd. are trading with gains of as much as 3% on Friday as the stock is gearing up for potential inflows post its inclusion in the MSCI Global Standard Index.

RVNL’s inclusion announcement was made earlier in the month.

Brokerage firm Nuvama Alternative and Quantitative Research is anticipating inflows worth $222 million in the stock when the adjustments take place towards the close of trading on Friday.

IIFL Alternatives is also anticipating inflows into RVNL to the tune of $180 million to $220 million.

RVNL is also in the news after it announced that it has signed an MoU with Patel Engineering to mark the beginning of a strategic partnership aimed at jointly executing projects in the field of hydro and other infrastructure projects both within India and internationally.

The parties will have the flexibility to participate in tenders either jointly or separately. The MoU will achieve synergies in the hydro and other infrastructure domains.

RVNL also announced on Friday that it has won an order worth ₹203 crore from the Indian Railways, which will have to be executed in the next 18 months.

Shares of Rail Vikas Nigam (RVNL) are trading 3% higher at ₹597.5. The stock is yet again nearing its record high levels of ₹647, which it had hit on July 15 before correcting to levels of as low as ₹515.

The Navratna PSUs shares have risen 228% so far in 2024, while over a 12-month period, the stock has risen 365%.