Multibagger from its 52-week low: This Navratna company receives an order worth Rs 2,248.95 crore!

The shares of the company gave multibagger returns of 106 per cent in just 6 months and over 290 per cent in 1 year.

On Friday, shares of Rail Vikas Nigam Ltd zoomed 3.70 per cent from their previous closing of Rs 120.45 per share to Rs 124.90. The stock gave multibagger returns of 330.70 per cent from its 52-week low of Rs 29 per share.   

Rail Vikas Nigam Limited (RVNL) informed that Rail Vikas Nigam Ltd-SCC Infrastructure Pvt Ltd (RVNL-SCC) JV has received a letter of award (LOA) for planning, design and construction of the main canal and structures including the associated distribution system to provide Irrigation facility on Engineering, Procurement and Construction (E.P.C.) single Responsibility turnkey basis, including 10 years O&M. The cost of the project is Rs 2248,94,13,999 (2,248.95 crore) (RVNL Share is 51 per cent and SCC Share is 49 per cent).

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Rail Vikas Nigam Ltd was established in 2003 by the Government of India for carrying out various kinds of rail infrastructure projects. In the last few months, the company has received mega orders from various clients across India. The company also received the ‘Navratna Company’ title in May 2023.   

RVNL has a market cap of Rs 25,500 crore with a PE of 19x and an ROE of 21.02 per cent. The company reported excellent quarterly and annual financial statements. In Q3FY23, net sales and net profit both rose over 23 per cent and 30 per cent respectively compared to Q3FY22.  

The shares of the company gave multibagger returns of 106 per cent in just 6 months and over 290 per cent in 1 year. Investors should keep an eye on this multibagger PSU stock.