RVNL: From Rs 19 IPO Price, Railway Stock Up 1,191% On Deal Wins: Over Rs 2,950 Crore Order Booked In March

Rail Vikas Nigam (RVNL), a multi-bagger railway stock, has come a long way. Right from its IPO issue price of merely Rs 19 to currently trading at around Rs 245 per share. Not only that RVNL is undervalued, as its all-time high level is around Rs 345.60 apiece on BSE. RVNL stock is currently among hot bets due to its strong order book, especially in 20 days of March alone.

RVNL Share Price:

On BSE, RVNL's share price stood at Rs 245.25 apiece, up by 0.4% on March 19th with a market cap of Rs 51,135.12 crore.

RVNL is a multi-bagger with an upside of 285.97% from its 52-week low of Rs 63.54 apiece.

So far in 2024, RVNL shares gained by 35% on BSE. While in a year, the upside is nearly 280%. But since its IPO, this Railway giant has skyrocketed by 1,190.78% on the exchange.

RVNL especially saw a big jump in March 2024 due to its back-to-back order wins.

RVNL launched its Rs 481.57 crore IPO at price bands of Rs 17 to Rs 19 in March 2019. While the IPO subscribed 1.82 times, RVNL fixed the IPO issue price at Rs 19 for the public offer.

RVNL's share price debuted on BSE and NSE on April 3, 2019. On the listing day, the share price closed at Rs 19.05 apiece on BSE, very close to its IPO issue price.

However, since 2023, RVNL share price's engines bolstered to give extraordinary returns to its investors. From its IPO issue price, RVNL shares are currently up by 1,190.79% on BSE. From its all-time high levels, RVNL shares have skyrocketed by 1,718.95%.

RVNL shares term trajectory is with periodic corrections, but the stock is seen as a long-term wealth creator. That is due to the government's mission for transforming Indian railways, record-high capital allocations, and the company's strong order book.

RVNL Order Book:

In March 2024 so far, RVNL has bagged more than Rs 2,800 Crore orders. Here are the details:

March 15:

RVNL bagged LoA from Maharashtra Metro Rail Corporation for "Design and Construction of Elevated Viaduct of Length 4.519 Kms from CH: (-) 1079.899m to CH: (-) 5599.298m between PCMC and NIGDI (Bhakti Shakti) on the North-South Corridor of Pune Metro Rail Project- Reach l -Extension. The project is costed at Rs 339.23 crore.

March 13:

The company received LoA from Madhya Pradesh Power Transmission Co. Ltd. for the "Construction of 132 kV & 220 kV Transmission Lines and associated Feeder Bays on a total Turnkey basis in Eastern MP. The project is aggregated to Rs 173.98 crore.

On the same day, RVNL also bagged an order worth Rs 106.37 crore from M. P. Paschim Kshetra Vidyut Vitran Company for "Supply, Installation, Testing and Commissioning of New 11 KV line for Bifurcation & Interconnection, Additional 11 KV Bay at 33 / 11 KV Sub-station, Augmentation of conductor of 33 KV & 11 KV Lines, Additional Distribution Transformer Substations with associate New 11 KV Lines, LT Line on AB cable, Conversion of bare LT line with AB Cable, Augmentation of LT AB Cable, Cover conductor for 11 KV Line Crossing Agriculture & Non-Agriculture Feeder, 11 kv and 33 kv Bus Bar renovation other associated work and Supporting works such as DPs, TPs, Crossing etc. in Jhabua O&M Division (LOT-12) under the Revamped Reforms-based and Results-linked, Distribution Sector Scheme.

March 12:

The company announced receiving orders worth Rs 193 crore from Rajasthan Rajya Vidyut Prasaran Nigam Limited for "Construction of New 8 Nos. 132 kV GSS Arnod, Chitamba, Devri, Jarkhoda, Peelwa Nadi, Ralawata, Seeswali and Tarnau along with associated lines and 132KV bays including supply of all equipment/materials, erection (including civil works) testing and commissioning on Supply - ETC basis.

March 11:

It bagged orders worth Rs 47.36 crore from Central Railway for "Signalling and Telecommunication work for provision of Automatic block signalling on Khapri- Sewagram Section of Nagpur Division.

March 9:

Also, the company had bagged an order amounting to Rs 543 crore from Madhya Pradesh Metro Rail Corporation Limited (MPMRCL) for "Part Design and Construction of Elevated Viaduct, Five (5) Elevated Metro Rail Stations (viz. Shaheed Bagh, Khajrana Chauraha, Bengali Chauraha, Patrakar Colony & Palasia Chauraha) and Ramp between Chainages 31+755 to 34+898.061 & 3+669.547 to 5+862 for Indore Metro Rail Project.

March 7:

On this day, the company announced that it received LoA from Himachal Pradesh State Electricity Board Ltd for the Development of Distribution Infrastructure at the NORTH ZONE of Himachal Pradesh under the Revamped Reformsbased and Results-linked, Distribution Sector Scheme (Loss Reduction Works). The project is costed at Rs 409.65 crore.

Additionally, the company bagged another order of a massive Rs 888.56 crore from Himachal Pradesh State Electricity Board Ltd for the Development of Distribution Infrastructure at the SOUTH ZONE of Himachal Pradesh under the Revamped Reformsbased and Results-linked, Distribution Sector Scheme (Loss Reduction Works).

Lastly, the company also received LoA for "Supply, Installation, testing and commissioning of 11 KV Line associated works such as 11 KV Line Bifurcation, 11 KV line Interconnection, 11 KV Line conductor Augmentation, LT AB cabling augmentation and conversion of LT Bare conductor to AB cabling under Revamped Reforms-based and Results-linked, Distribution sector (Package-11) in Jabalpur (City), Jabalpur (O&M), Katni, Mandla, Dindori, Seoni,
Chhindwara, Narsinghpur, Balaghat, Shahdol, Anuppur and Umariya Circles of MPPKVVCL, Jabalpur Company area. This project cost Rs 251.05 crore.

RVNL works as the construction arm of the Ministry of Railways for project implementation and transportation infrastructure development. The organization undertakes project execution from concept to commissioning and creates project-specific SPVs.

Disclaimer: The write-up is for information purposes only, and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.