RVNL announced bagging another order for a metro rail project on Friday evening.

What Happened: The rail infra company informed the exchanges that it has emerged as the lowest bidder for a ₹187.34 crore project in Nagpur.

The project, awarded by Maharashtra Metro Rail Corporation Limited (Nagpur Metro), involves the construction of six elevated metro stations—Cantonment, Kamptee Police Station, Kamptee Municipal Council, Dragon Palace, Golf Club, and Kanhan River Metro Station. The order is expected to be completed in 30 months.

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Last week, the company posted its earnings for the quarter ended March. RVNL reported a 17.4% year-on-year revenue growth to ₹6,714 crore. The Navratna company saw a 33% year-on-year increase in net profit, amounting to ₹478.6 crore. At the end of the financial year 2024, the company’s total order book stood at ₹85,000 crore.

The stock rocketed ever since the results came out. In the last five sessions, the RVNL share price has gone up around 27%. However, analysts at IDBI Capital advise caution as they maintained their “hold” rating on the stock after the results came out. Technical analysts, on the other hand, have a much more bullish stance seeing the stock going up to around ₹492.

Price Action: RVNL’s share price was down 0.47% to close at ₹370.50 on Friday.

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