−51% from the high · +1.5% from the low
Short build-up into a 26-day expiry: futures OI +1.4% on a −2.4% day, the most call OI sits at 210, the most put OI at 200, max pain 210.
RVNL futures closed at ₹196.77, −0.1% to spot, with 90% of open interest in the 27 Oct contract, and the 198 straddle prices a move of about ±7.6% by expiry.
| Expiry | Close ₹ | Basis ₹ · % | Annualised % | OI lots · on the day | Share of OI % | Contracts traded |
|---|---|---|---|---|---|---|
| 27 Oct26 days | ₹196.77 | −0.23−0.1% | −1.6% | 17,000▲ +1.1% · +180 lots | 90 | 2,100 |
| 23 Nov53 days | ₹196.40 | −0.60−0.3% | −2.1% | 1,800▲ +1.7% · +30 lots | 9.7 | 430 |
| 29 Dec89 days | ₹196.26 | −0.74−0.4% | −1.5% | 120▲ +96.7% · +58 lots | 0.62 | 91 |
10% of futures OI sits beyond the 27 Oct contract · 45 of 57 listed contracts traded · 16,000 option contracts changed hands
The 198 straddle closed at ₹14.98 (call 7.10 + put 7.88), pricing a move of about ±7.6% by the 27 Oct expiry. In the last 253 windows of 19 sessions, RVNL moved more than that 104 times.
After the last 8 bulletins, RVNL closed higher five sessions later in 3 of 8.
| Bulletin | Day of the news | 1 session later | 5 sessions later | Futures OI on the day |
|---|---|---|---|---|
| 21 SeptRVNL secures ₹404.88 crore contract from East Coast Railway | ▲ +0.7%Nifty −0.4% · +1.1 pp | ▲ +1.0%Nifty +0.1% · +0.8 pp | ▼ −5.6%Nifty −3.0% · −2.6 pp | ▲ +0.3%long build-up |
| 20 SeptRail Vikas Nigam secures ₹404.88 cr LOA from East Coast Railway | ▼ −2.1%Nifty +0.3% · −2.4 pp | ▼ −1.5%Nifty −0.1% · −1.4 pp | ▼ −5.4%Nifty −2.4% · −3.0 pp | ▲ +4.3%short build-up |
| 29 JulRVNL shares rise 2% on new order win and dividend announcement | ▼ −0.9%Nifty +0.3% · −1.1 pp | ▲ +0.3%Nifty +0.6% · −0.3 pp | ▲ +4.5%Nifty +1.6% · +2.9 pp | ▲ +1.1%short build-up |
| 29 JulRVNL secures ₹359 crore railway doubling contract | ▼ −0.9%Nifty +0.3% · −1.1 pp | ▲ +0.3%Nifty +0.6% · −0.3 pp | ▲ +4.5%Nifty +1.6% · +2.9 pp | ▲ +1.1%short build-up |
| 28 JulRVNL and TTIPL form joint venture for ₹1,272 crore highway | ▼ −1.2%Nifty 0.0% · −1.1 pp | ▲ +0.4%Nifty +1.1% · −0.7 pp | ▲ +3.3%Nifty +2.6% · +0.8 pp | ▲ +1.7%short build-up |
| 21 JulRVNL wins ₹359 crore contract for Bihar rail doubling project | ▼ −0.9%Nifty −0.8% · −0.2 pp | ▼ −0.5%Nifty −1.3% · +0.8 pp | ▼ −0.2%Nifty +0.3% · −0.5 pp | ▲ +3.9%short build-up |
| 21 JulRVNL wins ₹359 crore contract for Bihar rail project | ▼ −0.7%Nifty −0.2% · −0.5 pp | ▼ −1.7%Nifty −1.0% · −0.7 pp | ▼ −2.4%Nifty −1.0% · −1.4 pp | ▲ +3.4%short build-up |
| 20 JulRVNL secures ₹358.97 crore EPC contract from East Central Railway | ▼ −0.7%Nifty −0.2% · −0.5 pp | ▼ −1.7%Nifty −1.0% · −0.7 pp | ▼ −2.4%Nifty −1.0% · −1.4 pp | ▲ +3.4%short build-up |
Revenue ₹4,321 cr, +11% on a year earlier; profit ₹160 cr, +19% in the Jun 2026 quarter, consolidated.
| Quarter | Revenue ₹ cr | Revenue YoY | Profit ₹ cr | Profit YoY | EPS ₹ | Market on the day |
|---|---|---|---|---|---|---|
| Jun 2026filed 11 Aug | ₹4,321 cr | ▲ +11% | ₹160 cr | ▲ +19% | 0.76 | 0.0%Nifty −0.1% · +0.1 pp |
| Mar 2026filed 25 May · audited | ₹6,696 cr | ▲ +4.2% | ₹182 cr | ▼ −60% | 0.90 | ▼ −4.7%Nifty −0.5% · −4.2 pp |
| Dec 2025filed 5 Feb | ₹4,684 cr | ▲ +2.6% | ₹324 cr | ▲ +4.0% | 1.55 | ▼ −0.8%Nifty +0.2% · −1.0 pp |
| Sept 2025filed 11 Nov | ₹5,123 cr | ▲ +5.5% | ₹231 cr | ▼ −20% | 1.10 | ▼ −0.4%Nifty +0.7% · −1.1 pp |
| Jun 2025filed 12 Aug | ₹3,909 cr | ▼ −4.0% | ₹134 cr | ▼ −40% | 0.65 | ▼ −1.0%Nifty +0.5% · −1.5 pp |
| Mar 2025filed 21 May · audited | ₹6,427 cr | ▼ −4.3% | ₹459 cr | ▼ −4.0% | 2.20 | ▼ −1.7%Nifty −0.8% · −0.9 pp |
| Dec 2024filed 14 Feb | ₹4,567 cr | ▼ −2.6% | ₹312 cr | ▼ −13% | 1.49 | ▼ −4.8%Nifty +0.1% · −5.0 pp |
| Sept 2024filed 7 Nov | ₹4,855 cr | ▼ −1.2% | ₹287 cr | ▼ −27% | 1.38 | ▼ −6.3%Nifty −0.2% · −6.0 pp |
| Year | Revenue ₹ cr | Revenue YoY | Profit ₹ cr | Profit YoY | EPS ₹ |
|---|---|---|---|---|---|
| FY26to Mar 2026 | ₹20,412 cr | ▲ +2.5% | ₹871 cr | ▼ −32% | 4.20 |
| FY25to Mar 2025 | ₹19,923 cr | ▼ −9.0% | ₹1,282 cr | ▼ −19% | 6.14 |
| FY24to Mar 2024 | ₹21,889 cr | — | ₹1,574 cr | — | 7.55 |
RVNL trades at 46 times trailing earnings against 31 for its industry, 4.2 times book value, revenue +5.4% over twelve months, a 1.7% dividend yield, market cap ₹41,000 cr.
| Stock | Market cap ₹ | P/E | P/B | Close ₹ |
|---|---|---|---|---|
| LTLarsen & Toubro Limited | 5,10,000 cron 1 Oct | 31consolidated | 4.0 | ₹3,693.40 |
| RVNLRail Vikas Nigam Limited | 41,000 cron 1 Oct | 46consolidated | 4.2 | ₹197.00 |
| KPILKalpataru Projects International Limited | 23,000 cron 1 Oct | — | 3.0 | ₹1,356.40 |
| NBCCNBCC (India) Limited | 21,000 cron 1 Oct | 28consolidated | 6.5 | ₹77.40 |
| IRBIRB Infrastructure Developers Limited | 21,000 cron 1 Oct | — | 0.98 | ₹17.00 |
| CEMPROCemindia Projects Limited | 20,000 cron 1 Oct | — | 8.4 | ₹1,178.90 |
| ENGINERSINEngineers India Limited | 18,000 cron 1 Oct | — | 5.6 | ₹312.75 |
| TECHNOETechno Electric & Engineering Company Limited | 12,000 cron 1 Oct | — | 2.8 | ₹998.60 |
| IRCONIrcon International Limited | 10,000 cron 1 Oct | — | 1.6 | ₹110.25 |
| RITESRITES Limited | 10,000 cron 1 Oct | — | 3.6 | ₹209.50 |
| WELENTWelspun Enterprises Limited | 10,000 cron 1 Oct | — | 3.1 | ₹724.45 |
| KECKEC International Limited | 9,900 cron 1 Oct | — | 1.6 | ₹372.35 |
| AFCONSAfcons Infrastructure Limited | 8,900 cron 1 Oct | — | 1.6 | ₹242.40 |
| NCCNCC Limited | 8,200 cron 1 Oct | — | 1.0 | ₹130.05 |
| POWERMECHPower Mech Projects Limited | 7,800 cron 1 Oct | — | 3.0 | ₹2,476.20 |
| GRINFRAG R Infraprojects Limited | 7,600 cron 1 Oct | — | 0.81 | ₹790.20 |
| ISGECIsgec Heavy Engineering Limited | 6,800 cron 1 Oct | — | 2.3 | ₹919.70 |
| CEIGALLCeigall India Limited | 6,600 cron 1 Oct | — | 3.1 | ₹380.10 |
| DBLDilip Buildcon Limited | 6,500 cron 1 Oct | — | 0.93 | ₹399.10 |
| HCCHindustan Construction Company Limited | 5,300 cron 1 Oct | — | 2.5 | ₹20.25 |
| LCCPROJECTLCC Projects Limited | 4,400 cron 1 Oct | — | — | ₹151.45 |
| SWSOLARSterling and Wilson Renewable Energy Limited | 3,800 cron 1 Oct | — | 5.9 | ₹164.80 |
| AHLUCONTAhluwalia Contracts (India) Limited | 3,700 cron 1 Oct | — | 1.8 | ₹555.90 |
| PNCINFRAPNC Infratech Limited | 3,500 cron 1 Oct | — | 0.52 | ₹138.15 |
| JKILJ.Kumar Infraprojects Limited | 3,500 cron 1 Oct | — | 1.0 | ₹461.85 |
| KNRCONKNR Constructions Limited | 3,200 cron 1 Oct | — | 0.64 | ₹113.30 |
| VINDHYATELVindhya Telelinks Limited | 3,100 cron 1 Oct | — | 0.74 | ₹2,617.00 |
| PSPPROJECTPSP Projects Limited | 3,000 cron 1 Oct | — | 2.3 | ₹747.10 |
| ASHOKAAshoka Buildcon Limited | 3,000 cron 1 Oct | — | 0.45 | ₹105.30 |
| INTERARCHInterarch Building Solutions Limited | 2,800 cron 1 Oct | — | 3.2 | ₹1,666.90 |
| HGINFRAH.G. Infra Engineering Limited | 2,700 cron 1 Oct | — | 0.83 | ₹419.90 |
| PATELENGPatel Engineering Limited | 2,600 cron 1 Oct | — | 0.58 | ₹25.90 |
| GKENERGYGK Energy Limited | 2,300 cron 1 Oct | — | 2.6 | ₹114.75 |
| SIMPLEXINFSimplex Infrastructures Limited | 1,900 cron 1 Oct | — | 2.0 | ₹245.00 |
| RAMKYRamky Infrastructure Limited | 1,900 cron 1 Oct | — | 0.88 | ₹274.60 |
| INDIANHUMEIndian Hume Pipe Company Limited | 1,800 cron 1 Oct | — | 1.2 | ₹346.10 |
| GARUDAGaruda Construction and Engineering Limited | 1,600 cron 1 Oct | — | 3.5 | ₹172.20 |
| CAPACITECapacit'e Infraprojects Limited | 1,500 cron 1 Oct | — | 0.80 | ₹180.35 |
| VIKRANVikran Engineering Limited | 1,500 cron 1 Oct | — | 1.2 | ₹58.25 |
| GPTINFRAGPT Infraprojects Limited | 1,500 cron 1 Oct | — | 2.5 | ₹118.65 |
| MBELM & B Engineering Limited | 1,400 cron 1 Oct | — | 2.2 | ₹251.75 |
| SPMLINFRASPML Infra Limited | 1,400 cron 1 Oct | — | 1.4 | ₹159.30 |
| BLKASHYAPB. L. Kashyap and Sons Limited | 1,100 cron 1 Oct | — | 2.1 | ₹50.25 |
| SOLARWORLDSolarworld Energy Solutions Limited | 1,100 cron 1 Oct | — | 1.3 | ₹125.55 |
| GAYAPROJGayatri Projects Limited | 1,000 cron 1 Oct | — | 1.7 | ₹22.45 |
| SEPCSEPC Limited | 980 cron 1 Oct | — | 0.51 | ₹5.10 |
| SRMSRM Contractors Limited | 910 cron 1 Oct | — | 2.2 | ₹398.75 |
| LIKHITHALikhitha Infrastructure Limited | 890 cron 1 Oct | — | 2.2 | ₹225.60 |
| OMINFRALOM INFRA LIMITED | 730 cron 1 Oct | — | 0.91 | ₹76.10 |
| SUPREMEINFSupreme Infrastructure India Limited | 650 cron 1 Oct | — | 2.8 | ₹66.95 |
| OMPOWEROm Power Transmission Limited | 540 cron 1 Oct | — | 3.9 | ₹157.75 |
| HAZOORHazoor Multi Projects Limited | 520 cron 1 Oct | — | — | ₹17.95 |
| BRAHMINFRABrahmaputra Infrastructure Limited | 430 cron 1 Oct | — | — | ₹148.85 |
| WSIW S Industries (I) Limited | 400 cron 1 Oct | — | 1.0 | ₹53.20 |
| MARKOLINESMarkolines Pavement Technologies Limited | 370 cron 1 Oct | — | 1.8 | ₹167.25 |
| MBLINFRAMBL Infrastructure Limited | 360 cron 1 Oct | — | 0.38 | ₹23.10 |
| VPRPLVishnu Prakash R Punglia Limited | 350 cron 1 Oct | — | 0.56 | ₹28.40 |
| ZODIACZodiac Energy Limited | 330 cron 1 Oct | — | 2.8 | ₹216.90 |
| ANNUAnnu Projects Limited | 310 cron 1 Oct | — | — | ₹47.10 |
| DBEILDeepak Builders & Engineers India Limited | 300 cron 1 Oct | — | 0.68 | ₹6.50 |
| RPPINFRAR.P.P. Infra Projects Limited | 260 cron 1 Oct | — | 0.49 | ₹52.60 |
| SABSAB Industries Limited | 260 cron 1 Oct | — | — | ₹170.00 |
| GLOBECIVILGlobe Civil Projects Limited | 250 cron 1 Oct | — | 1.0 | ₹41.50 |
| MADHAVIPLMadhav Infra Projects Limited | 200 cron 1 Oct | — | — | ₹7.30 |
| NIRAJNiraj Cement Structurals Limited | 170 cron 1 Oct | — | 0.62 | ₹27.75 |
| TARMATTarmat Limited | 140 cron 1 Oct | — | 0.77 | ₹57.25 |
| BRNLBharat Road Network Limited | 130 cron 1 Oct | — | 0.25 | ₹16.05 |
| SADBHAVSadbhav Engineering Limited | 120 cron 1 Oct | — | — | ₹6.80 |
| BCPLBCPL Railway Infrastructure Limited | 110 cron 1 Oct | — | 1.1 | ₹67.25 |
| USKUdayshivakumar Infra Limited | 100 cron 1 Oct | — | 0.60 | ₹18.40 |
| NAVKARURBNavkar Urbanstructure Limited | 95 cron 1 Oct | — | 0.60 | ₹0.85 |
| SADBHINSadbhav Infrastructure Project Limited | 92 cron 1 Oct | — | — | ₹2.60 |
| SEMACSemac Construction Limited | 75 cron 1 Oct | — | 0.87 | ₹242.00 |
| MADHUCONMadhucon Projects Limited | 29 cron 1 Oct | — | — | ₹4.00 |
| KRIDHANINFKridhan Infra Limited | 18 cron 1 Oct | — | — | ₹1.85 |
| ABINFRAA B Infrabuild Limited | — | — | — | — |
| BGRENERGYBGR Energy Systems Limited | — | — | — | — |
| IL&FSENGGIL&FS Engineering and Construction Company Limited | — | — | — | — |
| IL&FSTRANSIL&FS Transportation Networks Limited | — | — | — | — |
| MBECLMcnally Bharat Engineering Company Limited | — | — | — | — |
| MOLDTECHMold-Tek Technologies Limited | — | — | — | — |
| SETUINFRASetubandhan Infrastructure Limited | — | — | — | — |
| SKILSKIL Infrastructure Limited | — | — | — | — |
| TICLTwamev Construction and Infrastructure Limited | — | — | — | — |
| TPHQTeamo Productions HQ Limited | — | — | — | — |
Promoters hold 72.8%, foreign portfolio investors 2.4%, mutual funds 0.4% and insurance companies 6.2%, as filed for the quarter to 30 Jun.
| Category | 30 Jun | 31 Mar | 31 Dec | 30 Sept | 30 Jun |
|---|---|---|---|---|---|
| Promoters | 72.840.00 pp | 72.840.00 pp | 72.840.00 pp | 72.840.00 pp | 72.84 |
| Foreign portfolio investors | 2.41▼ −2.45 pp | 4.86▼ −0.11 pp | 4.97▲ +0.31 pp | 4.66▼ −0.23 pp | 4.89 |
| Mutual funds | 0.36▲ +0.18 pp | 0.18▲ +0.05 pp | 0.13▼ −0.02 pp | 0.15▼ −0.03 pp | 0.18 |
| Insurance companies | 6.240.00 pp | 6.240.00 pp | 6.240.00 pp | 6.24▲ +0.04 pp | 6.20 |
| Individual investors | 17.18▲ +2.05 pp | 15.13▲ +0.04 pp | 15.09▼ −0.43 pp | 15.52▲ +0.18 pp | 15.34 |
| Bodies corporate | 0.270.00 pp | 0.27▲ +0.04 pp | 0.23▲ +0.02 pp | 0.21▼ −0.04 pp | 0.25 |
| Government | 0.010.00 pp | 0.010.00 pp | 0.010.00 pp | 0.010.00 pp | 0.01 |
| Others | 0.70▲ +0.23 pp | 0.47▼ −0.02 pp | 0.49▲ +0.12 pp | 0.37▲ +0.07 pp | 0.30 |
Nothing upcoming on record; the last was a dividend of ₹0.71 a share, ex-date 18 Aug 2026.
| Ex-date | Action | Amount or ratio | Record date | Source |
|---|---|---|---|---|
| recent | ||||
| 18 Aug 2026 | dividend | ₹0.71 | 18 Aug 2026 | BSE |
| 11 Feb 2026 | dividend | ₹1.00 | 11 Feb 2026 | BSE |
| 21 Aug 2025 | dividend | ₹1.72 | 21 Aug 2025 | BSE |
| 23 Sept 2024 | dividend | ₹2.11 | — | BSE |
RVNL is −4.4% over 20 sessions against Nifty's −6.2%, 51% below its 52-week high, realised volatility 35% annualised.
| Window | From ₹ | RVNL % | Nifty 50 % | Difference pp |
|---|---|---|---|---|
| 250 sessionssince 26 Sept | ₹337.79 | ▼ −42% | ▼ −9.1% | −33 |
| 120 sessionssince 9 Apr | ₹272.82 | ▼ −28% | ▼ −5.7% | −22 |
| 60 sessionssince 8 Jul | ₹224.73 | ▼ −12% | ▼ −6.1% | −6.2 |
| 20 sessionssince 2 Sept | ₹206.00 | ▼ −4.4% | ▼ −6.2% | +1.9 |
| 5 sessionssince 24 Sept | ₹206.00 | ▼ −4.4% | ▼ −2.8% | −1.6 |
| 1 sessionsince 30 Sept | ₹201.76 | ▼ −2.4% | ▼ −0.88% | −1.5 |
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