NSE imposes fine on RVNL for board composition non-compliance

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RVNL · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

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

+1.5%Reaction day

₹218.15

prior close

₹221.32

announcement price

In-mkt

timing

Nifty Midcap 150market+0.0%+1.5% vs market

Civil Construction peers, median of 101sector+0.2%+1.3% vs sector

On the reaction day the stock moved 1.5 pts more than Nifty Midcap 150 and 1.3 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

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10m

+0.0

15m

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Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+1.5+0.0+1.5+0.2+1.3

Next day

-0.9-0.1-0.8-0.4-0.6

-1.7-0.1-1.6-0.2-1.5

-3.7+0.0-3.8-0.5-3.3

-4.5-1.2-3.3-1.7-2.7

-5.6-1.8-3.9-1.8-3.8

-2.6-1.5-1.1-0.2-2.4

15d

-7.5-4.1-3.4-4.3-3.2

-7.1-6.2-0.9-4.4-2.6

-16.3-11.5-4.7-13.6-2.7

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UpDownMarket · Nifty Midcap 150Sector · Civil Construction peers, median of 101Pending

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

AI summary

NSE imposed a fine of Rs 9,66,420 (inclusive of GST) on RVNL for non-compliance with Regulations 17(1), 18(1) and 19(1)(2) of SEBI LODR regarding composition of Board and its committees for Q1 FY27 (quarter ended 30 June 2026). RVNL stated this has no financial or operational impact. Being a Government company, director appointments are made by the President via Ministry of Railways, and RVNL has no role in this process.

Likely market impact

Minor regulatory fine with no financial impact. Waiver likely as earlier similar fines were waived by exchanges. Non-compliance due to government-controlled director appointments.