Upper circuit alert in this multibagger stock under Rs 150: PSU railway infrastructure company receives acceptance for new project!

The stock has gained over 140 per cent in the last six months.

Rail Vikas Nigam Limited (RVNL) has received letter of acceptance from Mumbai Metropolitan Region Development Authority (MMRDA) - Mumbai Metro line 2B for design, manufacture, supply, installation, testing and commissioning of 2 110KV receiving substation including 110 KV, 33kV & 25kV cabling work, and complete 25kV overhead catenary system along with switching station, 33Kv auxiliary power distribution system including 33/0.415 kV auxiliary sub-station (ASS) and complete SCADA system for main line & depot of Mumbai Metro line 2B of MMRDA.  RVNL had participated in consortium with SIEMENS India Limited. SIEMENS is the lead partner with 60 per cent share and RVNL as consortium partner with 40 per cent share. The cost of project is Rs 300,11,81,354 and EURO 8,838,976.

As of today, May 11, 2023, the stock opened at Rs 119.20, with a high and low of Rs 127.95 and Rs 119.20 respectively. Currently, the stock is trading at Rs 127, up by 4.18 per cent. The stock has shown tremendous growth and has given multibagger returns to its shareholders in the last one year. 

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RVNL was incorporated in 2003 by the Government of India and is engaged in implementing various types of railway infrastructure projects, including laying new railway lines, railway infrastructure, and gauge conversion. Overall, Rail Vikas Nigam Limited has shown great growth potential and is a promising multibagger stock under Rs 150.