Explosive Growth on the Tracks: Railway infrastructure marvel secures Rs 81.22 crore order as lowest bidder (L1) amidst 3,000 crore orders!

The stock gave multibagger returns of 280 per cent in just 1 year.

Rail Vikas Nigam Limited (RVNL) informed that RVNL-GEW (JV) emerged as the Lowest Bidder (L1) from South Central Railway for comprehensive signalling and telecommunication works for the provision of an automatic block signalling system in the Balharshah- Makudi section of Secunderabad Division in South Central Railway. The cost of the project is Rs 81,22,28,896.04 or Rs 81.22 crore (M/s Ganapathi Engineers Works, Hubli Share is 51 per cent and M/s Rail Vikas Nigam Limited Share is 49 per cent).  

So far in the fiscal year 2023-2024, the company has secured a cumulative order value of Rs 6,171.4 crore by emerging as the lowest bidder (L1). Out of these orders, the company has been granted the Letter of Award (LOA) for an order worth Rs 2,944.18 crore.  

On Thursday, shares of Rail Vikas Nigam Ltd zoomed 1.81 per cent from their previous closing of Rs 121.90 per share to Rs 124.10. The stock gave multibagger returns of 280 per cent in just 1 year.     

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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 25,177 crore with a PE of 19x and a ROE of 21.02 per cent. The company reported excellent quarterly and annual financial statements. 

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.