RVNL shares rose to an intraday high of Rs 2.3% a day after the company signed a Memorandum of Understanding with Dhaya Maju Infrastructure (Asia), providing RVNL the opportunity to work in the ASEAN region.
“The primary objective of this MoU is to outline the terms and conditions under which RVNL and DMIA may collaborate to work jointly to participate in the railway infrastructure and services projects in the ASEAN market and other markets as agreed, with special focus on establishing a manufacturing base in Malaysia for railway coaches and other railway products for catering to the growing need of ASEAN countries,” said the company in an exchange filing.
However, the stock of the railway company has shed 1.3% in the last four trading sessions. It gave up almost 10% returns in the last one month. Meanwhile, it more than doubled its investors’ wealth in the past six months. Long term, the stock has risen almost 2,350% in the last five years. Come from Sports betting site
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To compare, the benchmark index Nifty 50 has risen 1.6% in the last four trading sessions. It gave a return of 1% in the last one monthCome from Sports betting site VPbet. The index has increased by 28% in the past six months and given a return of 130% in the last five years.
Apart from that, RVNL’s net profit in Q1 FY25 fell 35% on year to Rs 224 crore from Rs 343 crore in the same period a year ago.
Its revenue from operations during the first quarter of FY25 declined by 27% to Rs 4,074 crore in comparison to Rs 5572 crore posted in the corresponding quarter last fiscal.