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PSU Miniratna Stock Rallies 13% In 3 Days, 116% In 90 Days, Gets Buy Call For 65% Gain
Mid cap PSU stock operating in construction sector, Rail Vikas Nigam has rallied 13% in just 3-days and given multibagger returns in 3 months. The company has a market capitalisation of Rs 16,586 crore. Leading brokerage firm, IIFL Securities is bullish on Rail Vikas Nigam and sees the stock price surging to Rs 130 apiece.
If you buy Rail Vikas Nigam, you will get 65% likley return. It is worth noting that the company has bagged several orders in the month of January only. Check key takeaways below:
1. Rail Vikas Nigam Bags Several Orders Worth Crores
The company earlier this month on January 5, 2023 received letter of acceptance (LOA) from Gujarat Metro Rail Corporation.
The project cost is Rs 166 crore. It also received LOA from Chennai Metro Rail Limited on January 11, 2023. The project cost is Rs 1,134.11 crore.
It also received LOA from Southern Railway for "Provision of Automatic Block Signaling with Dual MSDAC, EI/OC Interface and Block Optimization in TADUKU (TDK)- RENIGUNTA (RU) section. The project cost is Rs 38.97 crore.
2. Rail Vikas Nigam Stock Performance
The current market price of the stock is Rs 79 apiece with an intraday gain of 4.95%. The stock's 52-week high is Rs 84 apiece and 52-week low is Rs 29 apiece, respectively.
3. Rail Vikas Nigam Return
The stock has rallied 13% in a span of just 3 days from January 10 to January 13. The stock was priced Rs 70 on January 10 and today (January 13) the stock is priced Rs 79.
The stock has already given multibagger returns in just 3 months with return of 116%. In last 1-year, the return is 123% and in last 3-years, the return is 213%. The stock has rallied 157% in last 6-months.
The company for the quarter ended September 30, 2022 declared consolidated total income at Rs 5130 crore, up 5% from previous quarter total income of Rs 4878 crore.
4. About Rail Vikas Nigam
It started its operation in 2005 with the appointment of Board of Directors. Rail Vikas Nigam was granted Miniratna status in September 2013. RVNL has been rated "Excellent" for the 9 successive years by the Department of Public Enterprises. RVNL has also been ranked 1st amongst the Railway PSEs for the 4 times out of the last 5 years. It operates in Construction sector.
Disclaimer
The stock has been picked from the brokerage report of IIFL Securities. Greynium Information Technologies, the Author, and the respective Brokerage House 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.
