Rail Vikas Nigam Stock Surges After Company Bags Order Worth Rs 1097.68 Crore

Rail Vikas Nigam's stock price climbed by 1.89% on Friday, September 29, 2023, after the company emerged L1 for an order worth Rs. 1097.68 Crores for Development of Distribution Infrastructure at SOUTH ZONE of Himachal Pradesh. The completion period of the contract is 24 months.

"Development of Distribution Infrastructure at SOUTH ZONE of Himachal Pradesh under the Revamped Reforms-based and Results-linked, Distribution Sector Scheme [Loss Reduction Works]," the company stated in the filing.

"M/s RVNL emerges as the Lowest Bidder (L1) for "Development of Distribution Infrastructure at SOUTH ZONE of Himachal Pradesh under the Revamped Reforms-based and Results-linked, Distribution Sector Scheme (Loss Reduction Works)," the board of directors said in an exchange filing.

The stock on Friday ended at 169.40 per share, up 1.89% or Rs 3.15 on the BSE. The stock surged 1.53% in 1 week. I gained 32.71% in 1 month. It gained 152.57% in 6 months. It gave 414.11% multibagger return in 1 year, and 768.72% in 3 years, respectively.

Its 52-week high is Rs 199.35 per share and its 52-week low is Rs 32.80 per share. It has a market cap of Rs 35,320.24 Crore.

Rail Vikas Nigam Limited (RVNL) is a Midcap Navratna status PSU under the Ministry of Railways, Government of India.