PSU railway company Rail Vikas Nigam Ltd (RVNL) has received an order worth Rs 132 crore after market close, according to a stock exchange disclosure.
RVNL was declared the lowest bidder (L1) for the Central Railway project.
« The company has been declared the lowest bidder for an order from Central Railways. The order is for modification work of OHE (Overhead Equipment) for upgrading the existing 1 x 25 kilovolt electric traction system to 2 x 25 kilovolt AT power system in Wardha-Ballarshah section of Nagpur division of Central Railway to meet a loading target of 3,000 MT, » it said in a regulatory filing.
This is a multi-bagger stock. It has delivered a solid 127 percent return to shareholders in just 6 months.
The order is worth around Rs 132.59 crore and is expected to be finalised in two years.
RVNL received an order worth Rs 156 crore last week
Last week, the PSU railway also received an order from Southern Railway for automatic signalling work on Ernakulam JN (ERS) – Vallattol Nagar (VTK) section on B road of Thiruvananthapuram division of Southern Railway. The value of the order was Rs 156 crore.
At the same time, the company also announced the establishment of an overseas subsidiary. Navratna Company informed the exchanges about the establishment of « RVNL Middle East Contracting LLC » in Dubai.
RVNL Stock History
This multi-bagger PSU railway company has generated solid returns of 55% in the last three months and 127% in the last six months. The stock is up 126% in 2024. The stock is up 237% in the last one year and 1,270% in the last two years. The stock’s 52-week high is 432 and the lowest is 117.35. The market capitalization of the company is Rs 85,715.18 crore.
On July 2, 2024, Railway PSU stock fell by 0.90% and closed at Rs 411.1 apiece.