Rs 160,08,57,055 order win and LIC hikes stake: This multibagger railway stock bags new order; gains over 1,900 per cent!
Shares of the company have gained more than 150 per cent in the last six months.
Rail Vikas Nigam Limited (RVNL) has secured a contract from East Coast Railway to upgrade a railway section in Odisha. The project, valued at Rs 160.08 crore, involves installing an Automatic Block Signaling system with dual MSDAC (Multi Station Digital Axle Counter) for improved safety and efficiency.
Additionally, RVNL will modify existing electrical installations, platforms, and interlocking stations along the Jakhapura-Nergundi, Khurda Road-Bhusundpur, and Bhusundpur-Golanthra sections. This domestic project is expected to be completed within 24 months. The win strengthens RVNL's position in the railway infrastructure development sector and signifies its expertise in implementing modern signaling and safety systems.
Earlier, Rail Vikas Nigam Limited (RVNL) won a contract from Central Railway to upgrade the Wardha-Ballarshah section's electrical infrastructure. This domestic project, valued at Rs 132.59 crore, involves modifying the overhead equipment (OHE) system from a single 25 kV feeding system to a double 25 kV system. This upgrade aims to increase the load capacity to 3000 MT, enhancing efficiency and freight hauling capabilities. The project is expected to be completed within 24 months.
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RVNL generally works on a turnkey basis and undertakes the full cycle of project development from conceptualisation to commissioning, including stages of design, preparation of estimates, calling and award of contracts, and project and contract management, among others. Shares of Rail Vikas Nigam Limited have also delivered multibagger returns of about 1,900 per cent in a last three-years. LIC increases its stake in the company in March 2024. The company has an order book of Rs 85,000.
The stock has shown impressive growth, and investors should keep a close eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.