Multibagger railway stock rises 8% on Rs 390-crore order win, check details

Shares of state-run Rail Vikas Nigam Ltd (RVNL) rose over 8% today after the company won a contract worth Rs 390 crore. The multibagger railway stock rose 8.59% to Rs 383.65 against the previous close of Rs 353.30 on BSE. It has risen 214% in a year and gained 1063% in two years.

".... has received Letter of Acceptance from Eastern Railway for construction of Sitarampur bye pass line under Asansol division of Eastern Railway," the company said in its release.

The project cost is Rs 390,97 35,276.55 and to be completed in 24 months.

The company also emerged as the lowest bidder from Dakshin Haryana Bijli Vitran Nigam Limited for implementation of SCADA and DMS/OMS works in Gurugram Revamped Distribution Sector Scheme (RDSS) in DHBVN (Dakshin Haryana Bijli Vitran Nigam).

The cost of work is Rs 124.36 crore and is to be completed in 30 months

Total 26.91 lakh shares of RVNL changed hands amounting to a high turnover of Rs 101.32 crore. Market cap of RVNL rose to Rs 78,428 crore on BSE. RVNL shares have a one-year beta of 0.6, indicating low volatility during the period.        

In terms of technicals, the relative strength index (RSI) of RVNL stands at 58, signaling it's trading neither in the overbought nor in the oversold zone. Rail Vikas Nigam shares are trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.     

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.   

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