RVNL shares jump 11%, snap 3-day losing streak over Rs 554-crore Karnataka project

Rail Vikas Nigam Ltd (RVNL)

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26 Aug, 2025 12:21

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The shares of Rail Vikas Nigam Limited (RVNL) surged nearly 11 percent on February 19 to trade at Rs 369 apiece after the company announced that it has received a letter of acceptance (LoA) for a joint venture project worth Rs 554 crore for the Bengaluru Suburban Rail Project (BSRP) in Karnataka.

In an exchange filing released in the post-market hours of February 18, RVNL announced that Rail Infrastructure Development Company (Karnataka) Limited has placed the order for the construction of 9 stations - 1 elevated and 8 at-grade BSRP stations. The stations will be built in corridor-4A at Heelalige, Singena Agrahara, Huskur, Ambedkar Nagar, Carmelaram, Bellandur, Marathahalli, Doddanakundi and Kaggadasapura in Karnataka. The project would also include detailed design and engineering (DOC) along with all associated works for the Bengaluru Suburban Rail Project (BSRP).

RVNL will complete the project in a joint venture with Rithwik Projects Private Limited, which will have 49 percent stake in it. The order is set to be executed within 24 months, as per the exchange filing.

"The aforesaid work is in the normal course of business of the Company," RVNL said.

Notably, RVNL shares have now snapped its 3-day losing streak. The railway stock has seen significant downturn in last 6 months, falling nearly 35 percent. The fall in the share price was further fueled after the company reported a 13 percent YoY fall in net profit to Rs 311 crore in the third quarter of the current financial year (FY25).

RVNL had released its results for the quarter which ended on December 31, 2024 in the post market hours of February 14. The stock saw a significant decline on February 17, falling as much as 7 percent in morning trade that day.