This stock delivered 52 per cent returns in just seven trading sessions hitting the upper circuit and making a lifetime high!
As the lowest bidder for the Mahi Bajaj Sagar Project in Banswara, Rajasthan, RVNL has also come out on top.
In the past year, the RVNL stock has returned 250 per cent. Furthermore, comfortably outperformed the benchmark Nifty50 index, which during the same time period generated a return of 6.32 per cent.
At 3.30 pm on the BSE, shares of Rail Vikas Nigam Limited (RVNL) rose 10 per cent to Rs 118.40, and the business was given the "Navratna" designation. The Department of Public Enterprises recently accorded RVNL the "Navratna" designation in a corporate filing with the BSE.
Some Central Public Sector Enterprises are given more financial autonomy by the Indian government. These businesses are Navratna Companies. Navratna Companies have increased financial independence since they are permitted to make investments up to Rs 1,000 crore without seeking express government consent.
The RVNL stock has given a return of 52 per cent in the last seven trading sessions. Also, the company has a healthy dividend pay-out ratio of Rs 32.3 per cent and has delivered a profit growth of 24.2 per cent CARG over the period of the past 5 years.
As the lowest bidder for the Mahi Bajaj Sagar Project in Banswara, Rajasthan, RVNL has also come out on top. The company will plan, design, and build the main canal, structures, and associated distribution system for this irrigation project. In 42 months, the order should be carried out. The project will cost Rs 2,249 crore. While the index has returned 70.97 per cent over the past five years, the RVNL stock has returned 492.66 per cent over that time period, outperforming Nifty 50 by a wide margin.