Multibagger in just 6 months: This PSU company receives an order worth Rs 131,98,59,159!
The stock is up by 30 per cent in 5 days and over 195 per cent in just 6 months.
Rail Vikas Nigam Ltd (RVNL) has been making waves in the stock market lately, thanks to its impressive performance and positive news. On Tuesday, the shares of RVNL surged 10 per cent upper circuit from their previous closing of Rs 107.64 per share to Rs 118.40 being one of the Top Gainers on BSE. But what's behind this growth?
One factor contributing to RVNL's success is the recent letter of award it received from Madhya Pradesh Poorv Kshetra Vidyut Vitran Co. Ltd. The award is for the supply, installation, testing, and commissioning of 11 KV line associated works in several regions across the state. This is a significant win for RVNL and will likely contribute to its growth in the coming months. The order is worth Rs 131,98,59,159.
RVNL was established in 2003 by the Indian government to undertake various railway infrastructure projects, including new lines, railway electrification, doubling, gauge conversion, and more. In recent months, RVNL has received significant orders from various clients across India, further boosting its reputation and market position.
The company's market cap currently stands at Rs 24,479 crore with a PE of 17.33x and an ROE of 21.02 per cent. In addition, RVNL has been performing well in terms of financials, with net sales and net profit both rising over 23 per cent and 30 per cent, respectively, compared to the same period last year. The stock is up by 30 per cent in 5 days and over 196 per cent in just 6 months.
For investors looking to invest in PSU stocks, RVNL could be an excellent option to consider. With its impressive growth, positive news, and strong financials, RVNL is poised to continue performing well in the coming months. Investors should keep an eye on this multibagger PSU stock and consider adding it to their portfolio.
In conclusion, RVNL is a company on the rise, and its recent successes are a testament to its dedication to excellence and innovation. As the Indian economy continues to grow, so too will the demand for railway infrastructure, making RVNL a company to watch in the coming years.