From Rs 20 to Rs 80: This multi-bagger stock has given four-fold returns to its investors. Do you own it?

The PSU railway stock has given multi-bagger returns with the stock giving close to 100 per cent returns in one month whereas the stock has surged over 148 per cent during the last six months period.

On Monday, shares of Rail Vikas Nigam Limited (RVNL) made a new 52-week high and touched the 10 per cent upper circuit level of Rs 80.30 before closing at Rs 80.15. The scrip experienced a massive volume breakout after the volume surge was more than 1.39 times.

The company’s revenue in Q2FY23 increased by 22 per cent on a year-on-year (YoY) basis to Rs 4908.9 crore, while the consolidated net profit rose 36.5 per cent from the corresponding quarter last year. The company recently announced that it has been declared a successful bidder in an international project in Maldives named as Development of UTF (Uthuru Thila Falhu- Island) Harbour. The cost of the project is expected to be approximately Rs 1544.6 crore

Rail Vikas Nigam Limited is a PSU that constructs rail infrastructure. The company executes projects by raising funds through a special purpose vehicle (SPV) route and strategic stakeholders. The company generally works on a turnkey basis and handles the entire project development cycle, from conceptualization to commissioning, including stages of design, estimate preparation and looks into all stages of project execution up to the stage of commissioning of the new railway lines.

The PSU railway stock has given multi-bagger returns with the stock giving close to 100 per cent returns in one month whereas the stock has surged over 148 per cent during the last six months period. RVNL, after making its debut in May 2019, has given nearly 4-fold returns to its investors. Keep a close eye on this multi-bagger railway stock.