Rail Vikas Nigam Ltd. (RVNL) saw a 1.48% increase in its stock price to Rs 572.10 after announcing a strategic partnership with Dhaya Maju Infrastructure (Asia) Sdn Berhad (DMIA) through a memorandum of understanding (MoU). This collaboration aims to expand RVNL's operations into the ASEAN market, with a particular focus on establishing a manufacturing base in Malaysia for railway coaches and other railway products to meet the growing needs of ASEAN countries.

RVNL, a company that specializes in executing a wide range of railway projects, including new lines, electrification, metro projects, and major bridges, is looking to tap into new opportunities in Southeast Asia.

Despite this positive development, RVNL reported a significant decline in financial performance in Q1 FY25. The company's consolidated net profit fell by 34.7% to Rs 223.92 crore, compared to Rs 342.90 crore in Q1 FY24. Similarly, revenue from operations dropped by 26.88% to Rs 4,073.80 crore, down from Rs 5,571.57 crore in the same period the previous year.