Rs 83,221 Crore Order Book & FIIs Increase Stake: Multibagger Railway Infra Stock Receives Letter of Acceptance

The shares of the company closed at Rs 473.80, down 0.09 per cent from the previous session’s close.

On Thursday, Rail Vikas Nigam Ltd mentioned that it has received Letter of Acceptance from Southern Railway for Provision of MSDAC with existing DCTC at Stations (To serve as Dual detection) and replacing balance AFTCs in MAS- GDR & MSB-TBM automatic block signalling sections of Chennai Division in Southern Railway.

Shares of the company closed at Rs 473.80, down 0.09 per cent from the previous session’s close.

On November 29, 2024 RVNL has secured two significant contracts. The first, worth Rs 186,76,60,320.77, is awarded by East Central Railway for the design, supply, erection, testing, and commissioning of Traction Substations and associated Switching Posts in the Gomoh-Patratu section of Dhanbad Division. This project aims to upgrade the electric traction system from 1x25 KV to 2x25 KV AT feeding system and is expected to be completed within 540 days. 

Additionally, RVNL emerged as the Lowest Bidder (L1) for a Rs 642,56,57,822/- contract from Punjab State Power Corporation Limited (PSPCL). This project focuses on developing distribution infrastructure work for Package-3 Central Zone in Punjab, aiming to reduce HT/LT infrastructure losses under the RDSS scheme. This domestic contract is slated for completion within 24 months.

In September 2024, FIIs increased their stake to 5.05 per cent and DIIs decreased their stake to 6.33 per cent compared to June 2024. As of September 2024, the President of India owns a 72.84 per cent stake and Life Insurance Corporation of India owns a 5.96 per cent stake. The stock gave multibagger returns of over 165 per cent in just 1 year and a whopping 1,925 per cent in 5 years. Investors should keep an eye on this railway infra stock.

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