Multibagger Rail Vikas Nigam share price rises 10%: 3 Reasons why the stock remains in focus today

Stock Market Today: Multibagger Rail Vikas Nigam (RVNL) share price gained more than 10% in morning trades on Wednesday. While RVNL announced receiving Letter of Acceptance from Maharashtra Metro Rail Corporation for construction project in Nagpur. It also signed a MOU in middle east for expertise utilisation in Railway sector and remains lowest bidder in a South Eastern railway project.

Rail Vikas Nigam (RVNL) share price that opened at ₹560.00, 3.17% higher than previous close of ₹542.75 on the NSE on Wednesday continued to rise to highs of ₹598, marking gains of more than 10%.

With this Rail Vikas Nigam (RVNL) share price has gained more than 387% in last one year , giving Multibagger returns to the investors.

Rail Vikas Nigam (RVNL) on Tuesday post market hours announced receiving Letter of Acceptance from Maharashtra Metro Rail Corporation Limited (Nagpur Metro) for “Construction of 6 Nos Elevated Metro Stations (Cantonment, Kamptee Police Station, Kamptee Municipal Council, Dragon Palace, Golf Club and Kanhan River Metro Station) between Ch. – 7576.78mm to Ch -13457.76m in Reach 2B of NMRP Phase 2. The project cost is estimated at ₹187.34 Crore.

Rail Vikas Nigam (RVNL) also announced having signed Memorandum of Understanding (MOU) with M/s TATWEER Middle East and Africa LLC (TATWEER) for using RVNL’s expertise in Railway Sector, developing joint capabilities in design and execution of various Rail based work in MENA Region and European Countries and also for Supply, Design, Implementation and Commissioning of Smart City, Digital Transformation and Professional Engineering Services.

In a third development, Rail Vikas Nigam (RVNL) also announced emerging as the Lowest Bidder (L1) from South Eastern Railway for “Design, Supply, Erection, Testing & Commissioning of 132 KV Traction Substation, Sectioning post (SPs), and Sub sectioning post (SSPs) in 2x25KV System on Kharagpur - Bhadrak section of Kharagpur division of South Eastern Railway.

The project is to be completed in 18 months and the cost of project is ₹202.87 Crore.

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