700 per cent returns and FIIs increase stake: This multibagger rail infrastructure company bags a new order worth Rs 28,73,92,870.84!
Shares of the company have gained more than 150 per cent in the last six months.
Rail Vikas Nigam Limited informed in the exchange filing that the company emerged as the lowest bidder for TRC: Sukhovi-Pherima: for the supply, installation, testing & commissioning of integrated tunnel communication system in the Sukhovi-Pherima new single line section of Lumding Division. The order is worth Rs 28,73,92,870.84. The contract is awarded by Northeast Frontier Railway.
Earlier, the company was also announced lowest bidder for the construction of 4 Tunnels with ballastless track, earthwork in formation, construction of important bridges, major bridges, Minor Bridges, supply of stone ballast, track linking, side drain retaining wall etc. in Dharakoh Maramjhiri. The order is worth Rs 311.17 crore. The contract is awarded by Central Railway.
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Rail Vikas Nigam Limited is engaged in the business of implementing various types of Rail infrastructure projects including doubling, gauge conversion, new lines, railway electrification, major bridges, workshops, Production Units and sharing of freight revenue with Railways as per the concession agreement entered into with Ministry of Railway.
Rail Vikas Nigam Limited has delivered multibagger returns of over 400 per cent in the last one year. While in the last five years, the stock has gained over 730 per cent. FIIs increased their stake in the company to 3.10 per cent in July 2023.
On Friday, the stock opened at Rs 163.25, with a high and low of Rs 170.80 and Rs 163.25. The stock is currently trading at Rs 169.05, up by 2.55 per cent over its previous close of Rs 164.85. The stock has a 52-week high of Rs 199.35 and a 52-week low of Rs 35.60.
The stock has shown tremendous growth and investors should keep a close eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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