302% Return In 1-Yr: Navratna PSU Stock Emerges As L1 Bidder For Rs 395 Cr Project

Mid cap Navratna CPSE, Rail Vikas Nigam Ltd (RVNL) emerged as the lowest bidder (L1) for a project from Maharashtra Metro Rail Corporation (MMRCL) worth Rs 394.89 crore. Last trading price of RVNL share is Rs 121.15 per share with intraday fall of 1.86%. RVNL shares offered massive 87% return in last 3-months and 302% return in last 1-year. Check details below:

RVNL Bags 395 Cr Project From MMRCL: According to the BSE filing of RVNL, "it is hereby informed that Rail Vikas Nigam Limited) emerges as the Lowest Bidder (L1) from Maharashtra Metro Rail Corporation Limited (MMRCL) for 'Design and Construction of Elevated Metro Viaduct of length 6.92 km between Ch. (-) 657.182 m to Ch. (-) 7576.78 m in Reach 2A of NMRP Phase-2.' The cost of project is Rs. 394,89,84,782/-."

As per the regulatory filing of the company, the order has to be executed in 30 months. RVNL is engaged in the business of executing all kinds of railway projects that may include new lines, gauge conversion, doubling, railway electrification, metro projects, leading bridges, etc.

RVNL Stock Performance & Return: Last trading price of RVNL share is Rs 121.15 apiece on BSE. Its 52-week high price is Rs 144.50 apiece and 52-week low price is Rs 29.75 apiece, respectively. It has a market capitalisation of Rs 25,260.02 crore RVNL stock witnessed a surge of 76% YTD, offered 278% return in last 2-years, and 498% return in last 3-years.

RVNL Financial Outlook: The company for the quarter ended March 31, 2023 declared its consolidated total income at Rs 5,975.88 crore, up 12.90% from preceding quarter total income of Rs 5293.00 crore. It announced its net profit after tax at Rs 341.43 crore in latest quarter.

RVNL About: RVNL is a Navratna CPSE under the Ministry of Railways, Government of India. RVNL functions as an extended arm of the Ministry of Railways working for & on behalf of Ministry of Railways (MoR). It is empowered to act as an Umbrella SPV to undertake project development, resource mobilization etc. directly or by creating project specific SPVs or by any other financing structure found suitable, according to its official website.

Disclaimer: RVNL bagged order from Maharashtra Metro Rail Corporation. Greynium Information Technologies and the author are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.