Up 1270% in 2 years: This railway PSU stock to watch on Wednesday as company gets Rs 132 crore order

Railway PSU company Rail Vikas Nigam Ltd (RVNL) received an order worth Rs 132 crore after the market closed, according to a stock market disclosure.

RVNL has been declared the lowest bidder (L1) for the Central Railway Project.

"The company was declared the lowest bidder for an order from Central Railways. The order is for OHE (overhead equipment) modification work for upgrading the existing 1 x 25 kilovolt electric traction system to a 2 x 25 kilovolt AT feeding system in the Wardha-Ballarshah section of the Nagpur division of Central Railway to meet a loading target of 3,000 MT," it said in a regulatory filing.

This is a multibagger stock. It has given a strong return of 127 per cent to the shareholders in just 6 months.

The order is worth around ₹132.59 crore and is expected to be completed in two years. 

RVNL received worth Rs 156 crore order last week

Last week also, the railway PSU received an order from Southern Railway for automatic signaling work on the Ernakulam JN (ERS) – Vallattol Nagar (VTK) section on the B-Route of Thiruvananthapuram Division in Southern Railway. The order value was Rs 156 crore.

Around the same time, the company also announced the incorporation of an overseas subsidiary. The Navratna company informed the exchanges about the incorporation of “RVNL Middle East Contracting L.L.C” in Dubai.

RVNL Share Price History

This multi-bagger railway PSU has given strong returns of 55 per cent in the last three months and 127 per cent in the last six months. The stock has risen 126 per cent in the year 2024. The stock has risen by 237 per cent in the last one year and by 1270 per cent in the last two years. The 52 week high of the stock is 432 and low is 117.35. The market cap of the company is Rs 85,715.18 crore. 

On July 2, 2024, Railway PSU Stock fell 0.90 per cent and closed at Rs 411.1 each.