Multibagger stock below Rs 100: This railway company emerges L1 bidder for Vande Bharat Trainsets in JV

The shares of the company gave multibagger returns of 121.93 per cent from its 52-week low of Rs 29 per share with a PE of 9.42x and an ROE of 21.02.

Today, shares of Rail Vikas Nigam Ltd surged 10 per cent from their previous closing of Rs 64.36 per share to Rs 64.30. The shares of the company gave multibagger returns of 121.93 per cent from its 52-week low of Rs 29 per share.  

Recently, Rail Vikas Nigam Limited (RVNL) emerged as the Lowest Bidder (L1) for “Manufacturing cum Maintenance of Vande Bharat Trainsets including Upgradation of the Government Manufacturing Units & Trainset Depots.” in JV with the following JV Partners:  

1. M/s. Joint Stock Company Metrowagonmash-70 per cent  

2. M/s. Joint Stock Company Locomotive Electronic System-5 per cent  

3. Rail Vikas Nigam Limited-25 per cent  

As per the financial opening dated 01.03.2023, the M/s. JSC Metrowagonmash-Mytischi-RVNL (JV) has been declared L-1. The total quantity is 200 Trainsets and the cost per set is Rs 120 crore.  

Rail Vikas Nigam Ltd was incorporated in 2003 by the Government of India, it is engaged in the business of implementing various types of Rail infrastructure projects including doubling, gauge conversion, new lines, railway electrification, major bridges, workshops, etc.  

RVNL has a market cap of Rs 13,399 crore with a PE of 9.42x and an ROE of 21.02 per cent. The company reported excellent quarterly and annual financial statements. In Q2FY33, net sales and net profit both rose over 23 per cent and 30 per cent respectively compared to Q2FY22.  

Today, shares of the company saw a spurt in volume by more than 2.42 times on BSE. Investors should keep an eye on this multibagger PSU stock.