RVNL‘s share price was back in the green after slumping close to 8% in the past two sessions. Shares of the company have remained under pressure as the company’s September-quarter results failed to lift investor sentiment.

What Happened: IDBI Capital, in its review note for the company’s September-quarter results, remained cautiously optimistic. The brokerage maintained its “hold” rating for the stock with a target price of ₹463. The target reflects an around 6% upside from the stock’s last closing price.

The brokerage said that RVNL's profit after tax was 18% below its estimates, primarily due to weak execution impacted by prolonged monsoon conditions in certain regions. The analysts highlighted that the company has projected flat revenue of ₹22,000 crore for FY25, with expected EBITDA margins between 6% and 6.5%. The company remains confident about boosting execution in the second half of the fiscal year.

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Separately, on Monday evening, the railway major informed the exchanges that it was declared the lowest bidder for an engineering, procurement, and construction contract by South Central Railway. The project involves doubling the track between Navipet and Indalvai stations in Telangana, with a completion timeline of 24 months and an estimated cost of ₹294.94 crore.

Price Action: RVNL’s share price was up 1.05% to trade at ₹441.15 in early trade on Monday.

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