Multibagger stock under Rs 150: This railway infrastructure company bags a mega order worth Rs 121.05. crore!
The stock has gained over 200 per cent in the last one year.
Rail Vikas Nigam Limited (RVNL) has secured a mega order worth Rs 121.05 crore for the provision of E1-based automatic signalling with continuous track circuiting and other associated works. The company announced this in an exchange filing on April 27, 2023.
The order also includes suitable indoor alteration in electronic interlocking, RRI, and PI stations en route in the Gwalior section of the Jhansi Division of North Central Railway. RVNL is a Ministry of Railways CPSE with an annual turnover of Rs. 19381 crores and a net profit of Rs. 1087 crore for the year 2021-22.
In addition, the company has also been upgraded to Navratna CPSE, making it the 13th Navratna amongst the CPSEs.
As of today, April 27, 2023, the stock opened at Rs. 105.01, with a high and low of Rs. 106.00 and Rs. 100.77 respectively. The stock closed trading at Rs. 103.17, down by 1.37 per cent. However, in the last 6 months, the shares of the company have given more than 150 per cent returns, and on a YTD basis, the stock has given about 50 per cent returns. The stock has shown tremendous growth and has given multibagger returns to its shareholders in the last one year.
RVNL was incorporated in 2003 by the Government of India and is engaged in implementing various types of railway infrastructure projects, including laying new railway lines, railway infrastructure, and gauge conversion.
Overall, Rail Vikas Nigam Limited has shown great growth potential and is a promising multibagger stock under Rs 150.