Multibagger Stock under Rs 150: PSU railway infrastructure signs MoU with NHAI for an order worth Rs 353.23 crore!

The stock gave multibagger returns of 271.09 per cent in just 1 year whereas BSE Sensex Index is up by 16 per cent.    

Rail Vikas Nigam Ltd (RVNL) informed signing of the MoU with the National Highways Authority of India (NHAI) in connection with the construction of multi-modal logistics parks across PAN India under Bharatmala Pariyojana. RVNL has formed one joint venture (JV) viz., “INDORE MMLP PRIVATE LIMITED”. The total order is worth Rs 353.23 crore wherein Rail Vikas Nigam has 22.16 per cent ownership and the rest I owned by JVs.

Additionally, the company announced that The Board of Directors of the company will hold a meeting on Monday, May 29, 2023 for standalone and consolidated Q4 results and FY23 results and declared dividend if any for the fiscal year 2022 – 2023.

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On Friday, shares of Rail Vikas Nigam Ltd plunged 3.81 per cent to Rs 116.15 per share with an intraday high of Rs 122.30 and an intraday low of Rs 115.45. The stock gave multibagger returns of 271.09 per cent in just 1 year whereas BSE Sensex Index is up by 16 per cent.    

Rail Vikas Nigam Ltd, a Navratna company was established in 2003 by the Government of India for various rail infrastructure projects. RVNL has a market cap of Rs 24,217.51 crore with a PE of 19x and an ROE of 22 per cent.

The stock has a 52-week high of Rs 144.50 and a 52-week low of Rs 29. Investors should keep an eye on this multibagger PSU stock.