Rs 65,000 crore order book and FIIs & DIIs increase stake: This LIC backed multibagger railway stock secures new orders worth Rs 619 crore!

Shares of the company grew by more than 250 per cent in the last one year.

Rail Vikas Nigam Ltd. (RVNL) has secured a string of contracts demonstrating its diverse capabilities in the Indian infrastructure sector. In Madhya Pradesh, RVNL partnered with Salasar Techno Engineering Limited to win a Rs 173 crore contract for constructing new high-voltage transmission lines. Additionally, RVNL received a separate contract valued at over Rs 106 crore from M.P. Paschim Kshetra Vidyut Vitran Company Limited to upgrade the power distribution system in the Jhabua region.

Beyond the power sector, RVNL's expertise extends to metro development. Maharashtra Metro Rail Corporation Limited awarded them a contract worth over Rs 339 crore to design and construct a 4.52 km elevated viaduct for the Pune Metro Rail Project's North-South Corridor extension. These recent wins solidify RVNL's position as a key player in India's infrastructure development and showcase its diverse service offerings across the industry.

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In Q3FY24, the company posted a 6.44 per cent decrease in its consolidated revenue at Rs 4689.33 crore compared to Rs 5012.09 crore from the previous year’s corresponding quarter. The operating profit of the company stood at Rs 579.74 crore, while the PAT of the company stood at Rs 328.55 crore, from Rs 338.51 crore last year in the same quarter. The shares of the company have multibagger returns of more than 250 per cent in the last one year and FIIs and DIIs increased their stake in the company in December 2023 respectively.

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.