Disclosure under Regulation 30 of SEBI (LODR) Regulations, 2015- Imposition of fine by BSE for the quarter ended 31st March, 2026

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RVNL · price

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Price reactionminutes from the announcement price · days from the prior close

-1.1%Reaction day

₹252.85

prior close

₹251.80

announcement price

After-mkt

timing

Nifty Midcap 150market · index membership as recorded later (tracked since Jun 2026)-1.4%+0.3% vs market

Civil Construction peers, median of 100sector-1.7%+0.6% vs sector

On the reaction day the stock moved 0.3 pts more than Nifty Midcap 150 and 0.6 pts more than its Civil Construction peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

+1.2

10m

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15m

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30m

-0.2

Sessions after the filingfrom the prior close

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Reaction day

-1.1-1.4+0.3-1.7+0.6

Next day

-4.7-2.7-2.0-2.8-1.9

-4.5-2.5-2.0-1.7-2.8

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-6.4-2.5-3.9-2.6-3.8

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-7.3-2.9-4.4-3.3-4.0

15d

-3.4+0.4-3.8+0.2-3.6

-5.8-0.9-4.9-0.2-5.7

-11.0+1.0-12.1-3.8-7.2

-16.9+2.8-19.8-5.8-11.1

UpDownMarket · Nifty Midcap 150Sector · Civil Construction peers, median of 100Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

BSE has imposed a fine of Rs. 9,55,800 (inclusive of GST) on Rail Vikas Nigam Limited for non-compliance with SEBI regulations regarding board and committee composition for Q4 FY2026. The violation relates to Regulations 17(1), 18(1) and 19(1)(2). RVNL is a government company where director appointments (including independent directors) are made by the President of India through the Ministry of Railways, and the company states it has no role in such appointments. RVNL has clarified to BSE that upon achieving compliance with director composition requirements, it will be eligible for fine waiver as per SEBI policy. The company notes that in previous instances of similar non-compliance, both NSE and BSE have already waived imposed fines.

Likely market impact

The fine is relatively small (under Rs 10 lakh) and the company has stated it has no financial impact. The underlying governance issue (board composition) persists as RVNL awaits government appointment of requisite independent directors, but the company expects this to be resolved and fines to be waived.