Multibagger stock under Rs 150: This railway infrastructure company bags mega orders worth more than Rs 4,000 crore!
The stock has surged over 300 per cent in the last one year.
Rail Vikas Nigam Limited (RVNL) has secured 3 huge orders totalling worth Rs more than Rs 4,000 crore from Chennai Metro Rail Limited.
The first order is about the construction of five underground stations at KMC (Kilpauk), Sterling Road IN Nungambakkam, Gemini (Anna Flyover), Thousand lights and Thousand lights crossover box other than that work of Diaphragm Wall of two underground stations at Royapettah Government Hospital (Roy Apettah) and Chetpet Metro in Corridor 3 of CMRL Phase-II. The order value for the above project is Rs 1,730.59 crore and is to be executed in 1,725 days.
The second project, which is to build four underground stations at Dr Radhakrishnan Sala, Thiruma Yilai, Mandaneli, Adyar Junction and two cross passage shafts and one emergency escape shaft, besides this, work on the diaphragm wall of one underground station at Greenways Road Metro in Corridor-3 of CMRL Phase-II. The order value for the above project is Rs 1,461.97 crore and is to be executed in 1,725 days.
The third project is to construct three underground stations at Adyar Depot, Indira Nagar and Taramani Road Junction. Other work includes the construction of wall of the underground station at Thiruv Anmiyur Metro Station in Corridor-3 of CMRL Phase-II project. The order value for the above project is Rs 865.62 crore and is to be executed in 1,630 days.
The scrip opened today at Rs 126.80 and reached the day's high and low of Rs 127.75 and Rs 123.60, respectively. Its 52-week high stood at Rs 144.50, whereas its 52-week low was Rs 29. The current market cap of the company is Rs 25,843.82 crore. Promoters hold 78.20 per cent, while the institutional and non-institutional holdings are 8.04 per cent and 13.76 per cent, respectively.
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The government of India incorporated Rail Vikas Nigam Ltd in 2003, and it is in the business of carrying out different kinds of rail infrastructure projects given by the MoR, such as doubling, gauge conversion, new lines, railway electrification, significant bridges, workshops, and production units, as well as sharing freight revenue with railways in accordance with the concession agreement made with the Ministry of Railway.