This multibagger railways wagon company emerges as the lowest bidder for order worth Rs 808.48 crore from National Highways Authority of India!

The stock gave multibagger returns of 300 per cent in just 1 year whereas BSE Sensex Index is up by 20.50 per cent.    

Rail Vikas Nigam Ltd, a Navratna company was established in 2003 by the Government of India for various rail infrastructure projects. The company informed that Rail Vikas Nigam Limited merges as the Lowest Bidder (L1) for rehabilitation and up gradation from 4 to 8 lanning of Chandikhole - Paradip Section of NH-53 in the State of Odisha on HAM mode-2nd Call. The cost of the order is Rs 808,48,28,700.

RVNL has a market cap of over Rs 25,000 crore with a PE of 20x and an ROE of 25 per cent. The stock has a 52-week high of Rs 144.50 and a 52-week low of Rs 30.30. The company has been maintaining a healthy dividend payout of 33 per cent with a dividend yield of 1.58 per cent.

On Monday, shares of Rail Vikas Nigam Ltd surged 0.90 per cent to Rs 123.05 per share with an intraday high of Rs 125.15 and an intraday low of Rs 122.75. The stock gave multibagger returns of 300 per cent in just 1 year whereas BSE Sensex Index is up by 20.50 per cent.    

The company reported positive numbers in its Quarterly Results (Q4FY23) and annual results (FY23). Additionally, the company have declared a final dividend of Rs 0.36 per share (i.e., 3.60 per cent on the paid-up equity share capital) for the financial year 2022-2023. The record date/date of book closure for payment of the final dividend would be fixed and intimated in due course.

Investors should keep an eye on this railways wagon stock.