Multibagger railway stock gains on fresh order win, check details 

Shares of state-run Rail Vikas Nigam Ltd (RVNL) rose 2% today after the railway firm said it has emerged as the lowest bidder (L1) from Southern Railway for Provision of MSDAC with existing DCTC at Stations (To serve as Dual detection) and replacing balance AFTCs in MAS- GDR & MSB-TBM automatic block signalling sections of Chennai Division in Southern Railway.

The order is worth Rs 111 crore. The order is to be executed in 18 months.

RVNL shares gained 1.78% to Rs 586.80 on BSE in the current session. Total 4.03 lakh shares of RVNL changed hands amounting to a turnover of Rs 23.30 crore. Market cap of RVNL stood at Rs 1.20 lakh crore on BSE. The multibagger stock has a one-year beta of 1.3, indicating high volatility during the period.

In terms of technicals, the relative strength index (RSI) of RVNL stands at 54.9, signaling it's trading neither in the overbought nor in the oversold zone. Rail Vikas Nigam shares stand higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day, 200 day moving averages.

"Rail Vikas Nigam Limited emerges as the Lowest Bidder (L1) from Southern Railway for “Provision of MSDAC with existing DCTC at Stations (To serve as Dual detection) and replacing balance AFTCs in MAS- GDR & MSB-TBM automatic block signalling sections of Chennai Division in Southern Railway.” Declaration as per SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023 is enclosed as Annexure- A," said RVNL.

RVNL is an executing arm of Indian Railways and works for and on behalf of the ministry for projects assigned to it for execution. It works on a turnkey basis and undertakes the full cycle of project development from conceptualisation to commissioning including stages of design, preparation of estimates, calling and award of contracts, project and contract management.