RVNL shares rise 2% on Rs 405-crore order win from East Coast Railway

Shares of Rail Vikas Nigam Ltd (RVNL) rose 2 per cent in early trade on Friday after the company emerged as the lowest bidder (L1) for a project from East Coast Railway worth Rs 404.88 crore, including GST. The company made the disclosure in an exchange filing dated September 3.

The RVNL stock opened at Rs 212.40 over its previous close of Rs 209.50 on the BSE. It hit a high of Rs 213.40, up 1.86 per cent from the previous close. The day's low stood at Rs 211.15.

The project involves the execution of roadbed works, minor and major bridges, railway underpasses, building works, ballast supply and permanent-way linking, along with allied works. The scope also includes utility shifting, signalling and electrification works, power supply arrangements and shifting or modification of high-tension and low-tension lines.

The work relates to the execution of a third railway line between Nergundi-Barang and Khurda Road-Vizianagaram on the Bhadrak-Vizianagaram section. The overall section covers 385 km, comprising 22 km between Nergundi-Barang and 363 km between Khurda Road and Vizianagaram. The project is to be executed over 30 months.

The contract is a domestic project awarded by East Coast Railway and is being undertaken in the normal course of Rail Vikas Nigam's business. The company also stated that the promoter, promoter group or group companies have no interest in the entity awarding the project and that the order does not fall under related-party transactions.

RVNL reported a 18.5 per cent year-on-year rise in consolidated net profit to Rs 159.36 crore in June 2026 quarter, compared with Rs 134.53 crore in the year-ago quarter. However, profit declined 14.8 per cent sequentially from Rs 187.07 crore in Q4FY26. Revenue from operations rose 10.6 per cent YoY to Rs 4,321.23 crore in the latest quarter from Rs 3,908.77 crore in Q1FY26, while it fell 35.5 per cent QoQ from Rs 6,695.91 crore in the March quarter.