311.98% Rally In 1 Yr: Midcap Construction PSU Stock Receives 3 LOAs From Chennai Metro Rail Ltd

Rail Vikas Nigam Ltd. (RVNL), on Tuesday, June 20, 2023, informed the exchange that it has received 3 Letter of Acceptance (LOA) from Chennai Metro Ltd. of underground Stations for Phase-II Projects.

According to the regulatory filing by Rail Vikas Nigam Ltd., "Rail Vikas Nigam Limited (RVNL) has received three(3) nos. Letter of Acceptance from Chennai Metro Rail Limited (CMRL) of Underground Stations for phase-II Project."

Meanwhile, on Wednesday, the shares of RVNL closed 0.90% higher at Rs. 123.80 apiece. It hit the 52 week high on 8 May 2023 at Rs. 144.40 apiece, and 52 week low on 17 June 2022 at Rs. 29.05 apiece, respectively.

The stock jumped 92.99% in 11 months and 92.99% in 3 months, respectively. It gave 311.98% multibagger return in 1 year, while 555.03% multibagger return in 3 yeras.

About - Rail Vikas Nigam Ltd. (RVNL)

Rail Vikas Nigam Ltd. (RVNL) is a Navratna CPSE under the Ministry of Railways, Government of India. RVNL was incorporated as a 100% owned PSU of the Ministry of Railways (MoR) on 24-1-2003. RVNL is engaged in the business of implementing various types of Rail infrastructure projects assigned by MoR including doubling, new lines, major bridges, railway electrification, gauge conversion, workshops, Production Units and sharing of freight revenue with Railways as per the concession agreement entered into with Ministry of Railway.