In Q2 FY24, the firm reported a 3.4% rise in profit at Rs 394.3 crore against Rs 381.2 crore in the year-ago period. The revenue in Q2 FY24, however, climbed only marginally to Rs 4,914.3 crore, as compared to Rs 4,908.9 crore in the preceding year.
RVNL share price: The company, in a BSE filing said, "The KRDCL-RVNL JV (joint venture) emerges as the lowest bidder for Varkala Sivagiri Railway Station – Major upgradation/redevelopment of Varkala Sivagiri Railway Station in Kerala."
At 11.03 am, the scrip was trading 1.5% higher at Rs 180.8 on BSE. The stock has also delivered multibagger returns to its investors, as the stock rallied over 160% year-to-date, while it has surged nearly 400% in the last two years. The stock also delivered over 670% in the past three years.
Adani Enterprises formed a lower top lower-bottom formation on the daily chart, which is a sign of weakness. The stock is underperforming key benchmark indices.
The company also received the same work order from Western Railways for the Petlad-Bhadran (22.5 km) stretch of the Vadodara division. The order was valued at Rs 174.27 crore.