RVNL shares surge 4% on Rs 3.1 bn railway order in Madhya Pradesh

16 Nov 2023 CW Team

RVNL, the state-owned Rail Vikas Nigam, experienced a nearly 4% surge in its shares to reach Rs 162.9 recently. This boost followed the company's reception of a letter of acceptance for an Rs 3.112 billion order from the Central Railway. The project involves the construction of 4 tunnels (totalling 1.6 km) with ballastless track, earthwork, and the building of significant bridges (3) in the Dharakoh Maramjhiri section of Madhya Pradesh, covering a stretch from km 831.8 to km 841.9 in connection with the third line.

According to RVNL's exchange filing, the order from Central Railways is expected to be completed in 18 months. As of 10:46 am, the stock was trading 2.4% higher at Rs 160.6 on the BSE. RVNL has demonstrated significant performance, yielding 135% returns to investors year-to-date and an impressive rally of over 750% in the past three years.

In a previous development in October, RVNL-MPCC (JV) secured a letter of acceptance for engineering works and the supply of 50 mm machine-crushed stone ballast, including complete track works, as part of the gauge conversion project between Nadiad-Petlad (37.26 km) in the Vadodara Division on Western Railway. The order was valued at Rs 2.4571 billion. Additionally, the company obtained the same work order from Western Railways for the Petlad-Bhadran (22.5 km) stretch of the Vadodara division, valued at Rs 1.7427 billion.

Trendlyne data reveals that the average target price for RVNL stock is Rs 146, indicating a potential downside of 9% from the current market prices. The consensus recommendation from three analysts is a 'Hold.' From a technical perspective, the stock's day RSI (14) is at 47.7, indicating a neutral position. The MACD is at -1.0, below its Center Line, suggesting a bearish trend. Notably, RVNL stock is trading higher than the 5-day, 10-day, 20-day, 100-day, 150-day, and 200-day moving averages.

Resources

09 Mar 2026

Haworth India Hosts Women’s Leadership Panel Series

Haworth India marked International Women’s Day by hosting a leadership roundtable series titled ‘Give to Gain’, bringing together senior women leaders from architecture and design firms, corporates and project management consultancies. The series has been conducted in Delhi and Mumbai, with upcoming sessions scheduled in Bengaluru and Hyderabad on 27 March 2026. Structured as moderated panel discussions followed by audience interaction, the initiative examined the business impact of women’s leadership and the role of inclusive workplaces in supporting professional growth. Manish Khan..

Max Estates Secures RERA For Max One Project

Max Estates has secured RERA approval (UPRERA No.: UPRERAPRJ9759) for its Max One development around Max Towers in Sector 16B, Noida, bringing renewed progress to a project previously stalled following the insolvency of its earlier developer. Spread across around 10 acres with an estimated development potential of about 2.5 million sq ft, Max One is planned as an integrated mixed-use campus combining serviced residences, premium offices, retail spaces and a private club. The project is expected to generate total sales potential of about Rs 20 billion along with an estimated annuity rental inc..

Hindware Introduces Starc Smart Wall Mount Toilet

Hindware has introduced the Starc Smart Wall-Mount Toilet under its Hindware Italian Collection, designed to combine automation, hygiene and contemporary bathroom aesthetics. The model features automatic flushing, sensor-based seat opening and closing, and remote-controlled functions. It also includes an oscillating water spray and warm air dryer for cleaning, along with a self-cleaning nozzle designed to maintain hygiene. Additional features include adjustable heated seating, customisable water temperature and pressure settings, a foot-touch flush system and an LCD control interface. The wa..