PSU railway company bags Rs 167 crore worth of order, stock closed at crucial support levels!

The company's shares have delivered a multibagger return of over 860 per cent to their shareholders in the past three years.

Rail Vikas Nigam Limited was incorporated in 2003 by the Government of India. It is engaged in the business of implementing various types of rail infrastructure projects assigned by the Ministry of Railways, including doubling, gauge conversion, new lines, railway electrification, major bridges, workshops, and production units, and has confirmed a significant order received by the company.

Order Details

Rail Vikas Nigam Limited has been granted a Letter of Acceptance by SER HQ ELECTRICAL/SOUTH EASTERN RAILWAY for the "Design, Supply, Erection, Testing, and Commissioning for the upgrade of Electric traction system from 1 x 25 KV to 2 x 25 KV traction system for the Rajkharsawan - Nayagarh - Bolani section of Chakradharpur division of South Eastern Railway to meet the 3000 MT loading target.

The time period for execution of the orders is 18 months, with the work to be carried out domestically. The broad consideration or size of the cost of work amounts to Rs 167,28,12,874.95 (One Hundred Sixty-seven crore twenty-eight lakh twelve thousand eight hundred seventy-four rupees and ninety-five paisa), inclusive of applicable taxes.

Also read: Net profit zooms over 1,100 per cent in Q4 FY24: High ROE & ROCE stock delivered 127 per cent in just 6 months!

Share Price Chart of RVNL (Daily)

Share Performance

Today, the company's shares commenced trading at Rs 265.80 per share, which is lower compared to the preceding day's closing figure of Rs 266.85 per share. During the intraday trading session, the stock reached highs and lows of Rs 272.25 and Rs 260.95 respectively and finally concluded the day at Rs 269.95 per share representing a gain of 1.16 per cent on the BSE.

The market capitalisation of the company stands at Rs 56,285 crore. Additionally, the stock has delivered return of around 100 per cent in the last one year.

The company has not yet released its Quarterly Results for Q4 FY24. In terms of ownership, promoters hold 72.84 per cent, while public investors hold 18.66 per cent, as per the recent update.

Investors must keep this large-stock on their radar.

Disclaimer: The article is for informational purposes only and not investment advice.