Low PE high ROE multibagger stock: This construction company receives a project worth Rs 252.21 crore and declares dividend!
The stock has a PE of 10.41x and an ROE of 21.02 per cent with multibagger returns of 126.71 per cent.
Rail Vikas Nigam Limited (RVNL) has informed the exchange that M/s Rachana -RVNL JV has received LOA for “Up gradation to six lanes with paved shoulder of Sarkhej-Changodar Section of NH-8A (New NH-47) for Ahmedabad- Bagodara-Rajkot Road on EPC mode in the State of Gujarat (Package-7)”. The project cost is Rs 252,21,15,875 (Rachana Construction Co., Mehsana Share is 60 per cent and Rail Vikas Nigam Limited (RVNL) Share is 40 per cent.
The company also announced an Interim Dividend of Rs 1.77 per equity share of Rs 10 each (i.e., 17.7 per cent) for the financial year 2022-23. The company verified the record date as Thursday, April 6, 2023.
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 13,494.25 crore, a PE of 10.41x 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 0.09 per cent to Rs 64.72 per share from its previous closing of Rs 64.66 with intraday high of Rs 66.20 and a low of Rs 64.30.
The stock is up by 89.68 per cent in just 1 year and over 126.71 per cent in just 2 years. Investors should keep an eye on this multibagger PSU stock.