Share price of a Navratna CPSE (Central Public Sector Enterprises) under the Ministry of Railways moved up by 2.4 percent on BSE to hit an intraday high at Rs. 384.5 in the morning trading session of Thursday, after receiving an order from South East Central Railway for Rs. 38.1 crore.
With a market capitalisation of Rs. 79,866.7 crore, at 11:06 a.m., the shares of Rail Vikas Nigam Limited (RVNL) were trading in the green at Rs. 383.2, up by 2.05 percent, compared to its previous closing price of Rs. 375.5.
According to the recent regulatory filings with the stock exchanges, Rail Vikas Nigam Limited received a Letter of Acceptance from South East Central (SEC) Railway worth approximately Rs. 38.1 crore, to be executed within 15 months.
The order is for the provision of Auto Signalling with Electronic Interlocking (OFC Based) between Champa-Saragaon-Baraduar-Sakti section with alteration in existing Electronic Interlocking & Supply, Installation, Testing, Commissioning of new Electronic Interlocking, MSDAC & IPS etc., execution of all indoor & outdoor works & construction and Electrification of the huts etc. in Champa-Sakti Section of Bilaspur Division of S.E.C. Railway.
Earlier on 20th May, RVNL received a Letter of Acceptance worth Rs. 148.3 crore from South Eastern Railway for the Design, Supply, Erection, Testing and Commissioning of the upgradation of Electric traction system for the Kharagpur-Bhadrak section.
In terms of financials, the company’s revenue from operations grew by 17.4 percent YoY from Rs. 5,719.83 crore in Q4 FY22-23 to Rs. 6,714 crore in Q4 FY23-24, accompanied by an increase in net profit by 33.2 percent from Rs. 359.25 crore in Q4 FY22-23 to Rs. 478.4 crore in Q4 FY23-24.
As per the shareholding pattern of March 2024, the Promoters hold a 72.84 percent stake in the company, Foreign Institutional Investors hold a 2.32 percent stake, while Retail Investors and Domestic Institutional Investors hold a 18.66 percent and 6.18 percent stake in RVNL, respectively.
The stock has delivered multibagger returns of nearly 231.2 percent in the last one year and about 132.7 percent in six months. So far in 2024, it has given around 110 percent of multibagger returns.
Rail Vikas Nigam Limited (RVNL) along with its Subsidiary and Joint Ventures is engaged in implementing various types of Rail infrastructure projects assigned by MoR including doubling, gauge conversion, new lines, railway electrification, major bridges, workshops, and production units.
Written by Shivani Singh
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