Multibagger Midcap Maharatna Shares Rally On Securing Rs 256.2 Cr Project

State-owned Navratna status Company Rail Vikas Nigam Ltd (RVNL) has informed that it has emerged as the lowest bidder (L1) for multiple projects from the Maharashtra Metro Rail Corporation Ltd.

According to a stock exchange filing, the total cost of these transformative projects is Rs 256.19 crore or Rs 256,19,87,814/-.

According to the regulatory filing, Rail Vikas Nigam Limited emerges as the Lowest Bidder (L1) in the following projects of Maharashtra Metro Rail Corporation Limited:

A) Six Elevated Metro Station viz. Pili Nadi to Lekha Nagar in Reach-2A,

B) One Elevated and One At-Grade station viz. Ecopark and Metro City in Reach-IA respectively.

C) At-Grade Section Formation earthwork, boundary wall and retaining wall between Ch. 19550 to Ch. 20421.016 & Ch. 20498.516 to Ch. 21296.917,

D) Elevated Metro track supporting structure for Eco Park Metro station between Ch. 20421.016 to Ch. 20498.516 and

E) Multi-Storied Building at Tulsi School Land (at Sitabuldi) of NMRP Phase-2

The current market price of RVNL is Rs 130.75 per share, up 1.71% from its previous close of Rs 128.55 per share.

The stock has given 4.77% positive return in 1 week. It gave 127.48% multibagger return in the last 6 months. In 1 year, it has given 297.57% multibagger return. In 3 years, it has given 506.96% multibagger return.

The stock hit 52-week high on July 24, 2023 at Rs 146.65 per share and 52-week low on Sept 02, 2022, at Rs 32.60 per share.

RVNL is a midcap construction sector company. The company has a market cap of Rs 27,261.64 Crore.