RVNL shares surge 7% after incorporating wholly-owned subsidiary in Andhra Pradesh
“According to the regulatory filing, Sabbavaram Sheelanagar Road Development Limited was incorporated on May 15, 2025, and RVNL holds a 100% stake in the subsidiary. The entity will operate within the construction and infrastructure sector, aligning with RVNL’s existing line of business,” the company informed to the stock exchanges.
According to the regulatory filing, Sabbavaram Sheelanagar Road Development was incorporated on May 15, 2025, and RVNL holds a 100% stake in the subsidiary. The entity will operate within the construction and infrastructure sector, aligning with RVNL’s existing line of business.
The incorporation, which was disclosed on Friday, is expected to strengthen RVNL’s footprint in the infrastructure and construction sector.
Earlier last week, the company had also announced a new contract win worth Rs 159.79 crore from Central Railway.
The contract, awarded under standard terms, is scheduled to be completed over 24 months. It is a domestic order and forms part of RVNL’s routine business operations, the company said in an exchange filing.Also read: Delhivery shares jump 6% on reporting Rs 73 cr profit in Q4 vs YoY loss
RVNL share price history
Over the past week, the shares of RVNL registered a gain of 20.80%, while the two-week period saw a 22.33% increase. Over the past month, the price rose by 17.06%, and in the three-month duration, the gain stood at 15.02%.
RVNL shares technical performance
Currently, the shares of RVNL are placed above their short, medium and long term exponential moving averages and are oscillating near the 69.5 mark on the RSI, according to Trendlyne data.
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