Rs 47,36,54,438 of LOA secured by this multibagger railways company: Check the complete details inside!
The company has also notified that it has incorporated a subsidiary company in the Sultanate of Oman, as per the latest update.
Rail Vikas Nigam Limited was incorporated in 2003 by the Government of India. It is engaged in the business of implementing various types of rail infrastructure projects assigned by the Ministry of Railways. Today, the company announced that it has received a LOA from Central Railways.
Order Details
Rail Vikas Nigam Limited has received a Letter of Acceptance from Central Railway for "Signalling and Telecommunication work for the provision of Automatic Block Signalling on Khapri-Sewagram Section of Nagpur Division." The period within which the order(s)/contract(s) is to be executed is 12 months. The project cost, including GST, is Rs 47,36,54,438.19 (Rupees Forty-Seven Crore Thirty-Six Lakh Fifty-Four Thousand Four Hundred Thirty-Eight and Nineteen Paisa Only).
Share Performance
Today, shares of RVNL commenced trading at Rs 267.85 per share, higher compared to Friday’s closing figure of Rs 264.10 per share. Throughout the intraday trading session, the stock reached highs and lows of Rs 270.70 and Rs 262.70, respectively. Eventually, the company's shares concluded at Rs 264.35 per share almost flat on the BSE. The market capitalisation of the company stands at Rs 55,117 crore. Additionally, the stock has delivered an impressive return of around 260 per cent in the past year a multibagger return of around 800 per cent in the past three years.
Business Overview
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 assigned by the Ministry of Railways. These projects include doubling existing railway tracks, gauge conversion, laying new railway lines, railway electrification, construction of major bridges, the establishment of workshops and production units, and sharing of freight revenue with Railways as per the concession agreements entered into with the Ministry of Railways.
Investors must keep this Mid-Cap company's stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.
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