Multibagger PSU Stock Emerges L1 For Order Worth Rs 808.48 Crore

Rail Vikas Nigam Ltd. on Friday, Jul 07, 2023, informed that it has emerged as the Lowest Bidder for a highway project in Odisha. The cost of the project is Rs 808,48,28,700/-, the company stated in the exchange filing.

Rail Vikas Nigam Limited emerges as the Lowest Bidder (L1)

In an exchange filing, RVNL said, "Rail Vikas Nigam Limited (RVNL) emerges as the Lowest Bidder (L1) for "Rehabilitation and Up gradation from 4 to 8 laning of Chandikhole - Paradip Section of NH-53 (Old NH - 5A) from Km. 60.000 to Km. 76.646 (Package-4) in the State of Odisha on HAM mode-2nd Call."

It added, "The cost of project is Rs. 808,48,28,700-."

RVNL's Stock Movement

The stock RVNL last traded at Rs 121.95 on BSE, down 0.73% compared to its previous close. During the day, the stock hit an intraday high at Rs 124.45 apiece and an intraday low at Rs 121.65 apiece. Its 52-week low is Rs 30.30 apiece and its 52-week high is Rs 144.50 apiece.

In the past one month, the stock fell 4.01%, while in the past three and six months, the shares jumped 65.60% and 68.32%, respectively. It gave 298.53% return in the past one year, 280.50% in two years and 505.21% in three years.

About - Rail Vikas Nigam Limited (RVNL)

Rail Vikas Nigam Ltd. (RVNL) is a Miniratns - Category-1 CPSE. It was incorporated as a PSU on 24.01.2003. The company is engaged in the business of implementing various types of Rail Infrastructure projects assigned by MoR including doubling, gauge conversion, new lines, railway electrification, workshops, major bridges, Production Units and sharing of freight revenue with Railways as per the concession agreement entered into with Ministry of Railway. It is a midcap company with a market capitalisation of Rs 25,426.82 Crores.