Railway stocks have seen one of the bullish runs this year. Several railway stocks including IRFC, RVNL, Titagarh Rail Systems, and IRCON have given multi-bagger returns this year. But when compared to K&R Rail Engineering their returns are dwarfed.
From ₹65 levels, the stock has climbed up close to 1,000% to current levels of around ₹690. The rally in the stock has been driven by some massive orders that the company has bagged this year. In comparison, IRCON and IRFC have given close to 200% returns, whereas RVNL has surged up around 160% this year.
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In October, the company announced signing an MoU with Muktinath Darshan Private Limited for the execution of a Cable Car Project in the Gandaki province of Nepal. The total length of the Cable Car Project is about 84.32 Kilometers and the project is expected to be completed in four years. The project is valued at a massive ₹4,000 crore ($500 million).
Earlier this year, the company bagged an order from JK Cement Limited. The order pertains to the design and survey of a railway siding project situated at Muddapur in the Bagalkot District of Karnataka. The project holds a significant value, exceeding ₹300 crore.
Price Action: K&R Rail Engineering shares were down 1.06% to trade at ₹695 on Tuesday afternoon.
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