Multibagger railway stock in news today, here's why

Shares of Rail Vikas Nigam Ltd (RVNL) are in news today as the firm has emerged as the lowest bidder for a project worth Rs 270 crore from Maharashtra Metro Rail Corporation. The project involves the construction of 10 elevated metro stations. In the previous session, the multibagger railway stock rose 1.21% to Rs 479.50 on BSE. Total 2.33 lakh shares of RVNL changed hands amounting to a turnover of Rs 11.21 crore. Market cap of RVNL stood at Rs 99,976 crore on BSE. RVNL shares have a one-year beta of 1.4, indicating high volatility during the period.

RVNL stock has gained 1,204% in two years and risen 1,461.89% in three years. 

In terms of technicals, the relative strength index (RSI) of RVNL stands at 38.7, signaling it's trading neither in the overbought nor in the oversold zone. Rail Vikas Nigam shares are trading lower than the 10 day, 20 day, 30 day, 50 day, 100 day but higher than the 5 day, 100 day, 150 day and 200 day moving averages.    

"Rail Vikas Nigam Limited emerges as the Lowest Bidder (L1) from Maharashtra Metro Rail Corporation Limited for “construction of : (a) elevated metro stations seven nos. in reach 3a, namely- (1) hingna mount view, (2) rajiv nagar, (3) wanadongri, (4) apmc, (5) raipur, (6) hingna bus station, (7) hingna (b) elevated metro stations three nos. in reach 4a, namely- (1) pardi (2) kapsi khurd (3) transport nagar of nmrp phase-2," said RVNL in a communication to the bourses. 

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.