Multibagger in just 1 year: This PSU railways wagon company receives order worth Rs 394.90 crore from Maharashtra Metro Rail Corporation Limited!
The stock gave multibagger returns of 310 per cent in just 1 year whereas BSE Sensex Index is up by 19.25 per cent.
Rail Vikas Nigam Ltd, a Navratna company was established in 2003 by the Government of India for various rail infrastructure projects. The company informed that Rail Vikas Nigam Limited emerges as the Lowest Bidder (L1) from Maharashtra Metro Rail Corporation Limited (MMRCL) for the design and construction of the elevated metro viaduct. The cost of the project is Rs. 394,89,84,782 or Rs 394.90 crore and will be completed in 30 months.
RVNL has a market cap of Rs 25,625 crore with a PE of 19x and an ROE of 21 per cent. The stock has a 52-week high of Rs 144.50 and a 52-week low of Rs 29.75. The company has been maintaining a healthy dividend payout of 32.2 per cent with a dividend yield of 1.58 per cent.
On Friday, shares of Rail Vikas Nigam Ltd gained 1.69 per cent to Rs 123.20 per share with an intraday high of Rs 124.65 and an intraday low of Rs 122.30. The stock gave multibagger returns of 310 per cent in just 1 year whereas BSE Sensex Index is up by 19.25 per cent.
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The company reported positive numbers in its Quarterly Results (Q4FY23) and annual results (FY23). Additionally, the company have declared a final dividend of Rs 0.36 per share (i.e., 3.60 per cent on the paid-up equity share capital) for the financial year 2022-2023. The record date/date of book closure for payment of the final dividend would be fixed and intimated in due course.
Investors should keep an eye on this railways wagon stock.