Multibagger stock under Rs 100: This government enterprise emerged as the lowest bidder for a project worth Rs 378.16 crore from Mumbai Metro!
The stock has gained over 100 per cent in the last one year.
On April 06, 2023, Rail Vikas Nigam Limited informed in the exchange filing that it has emerged as the Lowest Bidder (L1) for the design, manufacture, supply, installation, testing and commissioning of 2 nos. 110kV receiving substation including110 kV, 33kV & 25kV cabling work, 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 mainline and depot of Mumbai Metro line 2B of MMRDA.
RVNL had participated in a consortium with Siemens India Limited. Siemens is the lead partner with a 60 per cent share and RVNL is a consortium partner with a 40 per cent share.
Today, the stock opened at Rs 74, with a high and low of Rs 74.66 and Rs 72.25. The stock closed trading at Rs 73.64, up by 0.27 per cent.
In the last 6 months, the shares of the company have given more than 100 per cent returns and on a YTD basis, the stock has given about 8 per cent returns. The stock has given multibagger returns to its shareholders in the last one year.
Rail Vikas Nigam Limited was incorporated in 2003 by the Government of India. It is engaged in the business of implementing various types of railway infrastructure projects. The company mainly caters to laying new railway lines, railway infrastructure and gauge conversion.