Multibagger stock below Rs 100: This mid-cap company emerges as the Lowest Bidder (L1) for a project worth Rs 720.67 crore!

The shares of this PSU company gave multibagger returns of 140 per cent from its 52-week low of Rs 29 per share.  

On Friday, shares of Rail Vikas Nigam Ltd surged 2.28 per cent from their previous closing of Rs 67.07 per share to Rs 68.60. The shares of the company gave multibagger returns of 140 per cent from its 52-week low of Rs 29 per share.  

Recently, Rail Vikas Nigam Limited (RVNL) emerged as the Lowest Bidder (L1) from the National Highway Authority of India (NHAI) for the “construction of six-lane elevated Kona Expressway from km 0.145 to km 7.337 of NH-117 in the state of West Bengal on EPC mode.” The cost of the project is Rs 720.67 crore which is to be executed in 910 days.  

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 including doubling, gauge conversion, new lines, railway electrification, major bridges, workshops, etc.  

RVNL has a market cap of Rs 14,303 crore with a PE of 10.80x and an ROE of 21.02 per cent. The company reported excellent quarterly and annual financial statements. In Q2FY33, net sales and net profit both rose over 23 per cent and 30 per cent respectively compared to Q2FY22.  

Investors should keep an eye on this multibagger PSU stock.