State-owned Rail Vikas Nigam Ltd (RVNL) on Thursday posted around 35 per cent fall in consolidated net profit to Rs 223.92 crore during the June quarter of FY25, mainly on account of reduced income. It had reported a net profit of Rs 343.09 crore during the April-June period of the preceding 2023-24 fiscal, the company said in an exchange filing. The company's total income decreased to Rs 4,336.75 crore from Rs 5,853.18 crore in the year-ago quarter. RVNL, under the Ministry of Railways, is involved in project development, financing and implementation of projects related to rail infrastructure.
The rise in the stock price came after the company announced that it has secured an order from Himachal Pradesh State Electricity Board limited (HPSEBL).
Shares of rail and defense related companies bounced back in trades on Wednesday; however, charts reveal that several stocks were trading below their key short-term moving averages.
In a separate exchange filing, RVNL informed that the Hon'ble tribunal has passed an award of Rs 584.22 crore in favour of its joint venture company i.e. Krishnapatnam Railway Company Limited (KRCL).
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The fall came after investors flocked to book profit after the stock rallied 58 per cent in the past one month
Shares of Rail Vikas Nigam Limited (RVNL) rose as much as 3.26 per cent to hit a fresh 52-week high of Rs 647 per share on Monday
At 6:47 AM, GIFT Nifty futures indicated a major uptick of 91 points at 24,613, suggesting a gap-up start for the bourses
At 11:50 am; with Rs 1.33 trillion market cap, RVNL was trading 4.5% higher at Rs 638.25 on the BSE, while, BPCL and PNB's market cap stood at nearly Rs 1.32 trillion, data shows.
The company also signed MoU with TATWEER Middle East and Africa LLC for using RVNL's expertise in railway sector.
The GoI is focusing on improving the railway infra and ensures faster development and completion of tracks, rail electrification, rolling stock manufacturing and delivery of passenger freight services
RVNL, MDL, Samvardhana Motherson International, Cummins and Indus Towers, have joined the elite club in CY24; These stocks have surged up to 174% thus far this year.
The surge in share price ame after the company announced that Ircon-Paras-PCM joint venture (JV) has been awarded with a letter of award (LoA) for the project worth Rs 751 crore, floated by RVNL
The uptick in share price came after the company announced that it inked a memorandum of understanding (MoU) with Delhi Metro Rail Corporation Limited (DMRC)
The uptick in stock price came after RVNL announced that it has emerged as lowest bidder (L-1) for a contract worth Rs 133 crore from Central Railway
The uptick in stock price came after RVNL announced that it has bagged a contract worth Rs 156.47 crore from Southern Railway
The uptick in share price came after the RVNL announced that it has emerged as the lowest bidder (L-1) for a project worth Rs 192 crore from South Eastern Railway
The Indian Railways' fast-track approach and the government's push for Atmanirbhar Bharat have catalysed to chart new frontiers
The share price of RVNL rose after the it announced that the company has emerged as the lowest bidder (L-1) for a project from East Coast Railway worth Rs 160 crore.