1,900 per cent returns and LIC hikes stake: This multibagger railway stock incorporates subsidiary to expand in Uzbekistan; bags new order worth Rs 191.53 crore!
Shares of the company gained more than 90 per cent in the last six months.
Rail Vikas Nigam Limited (RVNL) has been actively expanding its operations both domestically and internationally. The company has recently incorporated a subsidiary, Rail Vikas Nigam LLC, in Uzbekistan, marking its foray into the Central Asian market. Concurrently, RVNL has secured two significant projects within India. It has emerged as the lowest bidder for a Rs. 739.07 crore project to enhance power distribution infrastructure in Himachal Pradesh.
Additionally, RVNL has won a Rs. 191.53 crore contract from South Eastern Railway to establish a 132 KV traction substation. These projects underscore RVNL's growth trajectory and its commitment to bolstering India's infrastructure while exploring new international opportunities.
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RVNL is engaged in the business of implementing various types of Rail infrastructure projects assigned by MoR including doubling, gauge conversion, new lines, railway electrification, major bridges, workshops, Production Units and sharing of freight revenue with Railways as per the concession agreement entered into with Ministry of Railway. Shares of Rail Vikas Nigam Limited have also delivered multibagger returns of about 1,900 per cent in a last three-years. LIC increases its stake in the company in June 2024. The company has an order book of Rs 85,000.
The stock has shown impressive growth, and investors should keep a close eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.