Shares of Rail Vikas Nigam (RVNL) increased 3.2% and reached an intraday high of Rs 451.60 after the business received an order from East Central Railway for more than Rs 186 crore.

In its regulatory filing, the company said, “It is hereby informed that Rail Vikas Nigam Limited has received a Letter of Acceptance from East Central Railway.”

In addition, it stated that RVNL would be in charge of designing, supplying, erecting, testing, and commissioning traction substations along with related switching posts as part of the contract for the Gomoh-Patratu Section of the Dhanbad Division of the East Central Railway in order to upgrade the electric traction system from a 1X25 to a 2 X 25 KV AT feeding system. The project must be finished in 540 days.

In the September quarter of FY25 (Q2FY25), RVNL’s earnings fell 27.2% year-over-year (Y-o-Y) to Rs 287 crore, down from Rs 394.3 crore in the same period in FY24 (Q2FY24).

However, from Rs 4,914.3 crore in Q2FY24 to Rs 4,855 crore in Q2FY25, the company’s revenue decreased by just over 1% yearly.

The Government of India’s Ministry of Railways oversees RVNL, a public sector enterprise that was founded in 2003. The organization focuses on the planning, building, and execution of railway infrastructure projects throughout India, such as electrification, signalling, station renovation, and the installation of new railway lines. 

The business is essential to the growth and modernization of the Indian Railways system, which enhances the effectiveness and security of transportation. Fully controlled by the government, RVNL is traded on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). The organization also prioritizes eco-friendly practices and sustainable development projects like solar panel installation.

At 1:52 pm, the shares of RVNL were trading 0.94% higher at Rs 441.90 on NSE. 

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