This multibagger stock bags new orders worth over Rs 1,100 crore!
The company has given multibagger returns of over 128 per cent in just 6 months and over 100 per cent in 1 year
On Wednesday, shares of Rail Vikas Nigam Limited (RVNL) surged more than 3.3 per cent to make an intraday high of Rs 72.70.
The company informed the exchange that they have received LOA (Letter of Agreement) from Chennai Metro Rail Limited, for a contractual amount of Rs 1134.11 crore. The nature of the order includes construction of elevated viaduct, elevated metro stations at Sholinganallur Lake-I, Sri Ponniamman Temple, Sathyabama University, SemmeancheriII, Gandhi Nagar, Navallur, Siruseri, Siruseri SIPCOT-l and Siruseri SIPCOT-2 and Stabling viaduct at SIPCOT.
This news continues the spree of contracts received by the company after they had announced on January 05, 2023, that they had received orders from Gujarat Metro Rail Corporation Limited for a contractual amount of approximately Rs 166 crore.
Rail Vikas Nigam Limited is a PSU that constructs rail infrastructure. The company executes projects by raising funds through a special purpose vehicle (SPV) route and strategic stakeholders. The company generally works on a turnkey basis and handles the entire project development cycle, from conceptualization to commissioning, including stages of design, estimate preparation and looks into all stages of project execution up to the stage of commissioning of the new railway lines.
The company has given multibagger returns of over 128 per cent in just 6 months and over 100 per cent in 1 year. Keep a close eye on this trending railway multibagger stock.