RVNL
RVNL shares in focus after ₹903 crore order from SJVN subsidiary
Shares of Rail Vikas Nigam Limited (RVNL) are expected to draw investor attention on Monday following a ₹903 crore order from SJVN Thermal Private Limited, a wholly owned subsidiary of SJVN. The Letter of Award was received for the construction of a permanent siding and aerial track connection from the plant boundary to Chausa and Pawani Kamarpur at Buxar, Bihar, as part of the 1,320 MW Buxar Thermal Power Project. The project is to be executed over 36 months and is domestic in nature, falling under RVNL’s normal course of business. The company confirmed there is no promoter or promoter-group interest in the awarding entity and that the transaction does not qualify as a related-party deal.
This comes after RVNL emerged as the lowest bidder (L1) for another major railway project on Thursday, securing a ₹404.88 crore contract (including GST) from East Coast Railway for third line works between Nergundi-Barang and Khurda Road-Vizianagaram. That project spans 385 km and includes roadbed works, bridges, ballast supply, signalling, telecommunication, electrification, and utility shifting, to be completed within 30 months.
Despite these order wins, RVNL’s stock has remained under pressure. In August, shares fell another 7% to ₹210, extending a losing streak to four straight months. Year-to-date losses have widened to 40%, marking the steepest annual decline since the stock’s listing in 2019. The stock has dropped 68% from its all-time high of ₹647 reached in June 2024.
However, over a five-year horizon, RVNL still shows strong gains, having surged nearly 608%. Retail investor sentiment remains relatively positive, with an 18.2% stake held by retail investors as of June quarter-end, according to Trendlyne data. The company has not provided any forward guidance, and market watchers will monitor trading activity for signs of renewed interest following the order announcements.
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