Low PE high ROE multibagger stock: This construction company receives a project worth Rs 1,271.99 crore!
The stock has a PE of 10.4x and an ROE of 21.02 per cent with multibagger returns of 125 per cent in just 2 years.
Rail Vikas Nigam Limited (RVNL) has informed the exchange that “TTIPL-RVNL Consortium (Tracks & Towers Infratech Pvt Ltd & Rail Vikas Nigam Limited) emerged as the Lowest Bidder (L1) for NHAI Project of “6-lane Greenfield Varanasi-Ranchi-Kolkata Highway from Sonepurbigha village to junction with NH-22 (Chatra Bypass) near Chatra from km 184.700 to km 222.000 under Bharatmala Pariyojana in the State of Jharkhand on Hybrid Annuity Mode (Package-8).” The cost of the project is Rs 1,271.99 crore (TTIPL Share is 51 per cent and RVNL Share is 49 per cent).
RVNL has also entered into a Memorandum of Understanding (MoU) with M/s. Jakson Green Private Limited for Clean Energy EPC Projects Globally.
Rail Vikas Nigam Ltd was established in 2003 by the Government of India to implement various types of rail infrastructure projects such as doubling, gauge conversion, new lines, railway electrification, major bridges, workshops and so on.
RVNL has a market cap of Rs 13,750 crore, a PE of 10.4x and an ROE of 21.02 per cent. The company reported positive numbers in both Quarterly Results and annual results.
Today, shares of RVNL surged 1.99 per cent to Rs 65.87 per share from its previous closing of Rs 64.59. The 52-week high is Rs 84.15 and the 52-week low is Rs 29.
The stock is up by 84 per cent in just 1 year and over 125 per cent in just 2 years. Investors should keep an eye on this multibagger PSU stock.