Rail Vikas Nigam Limited (RVNL) issued a clarification on March 6, 2026, regarding news reports suggesting a proposed merger between RVNL and IRCON International. RVNL confirmed that it has not received any official intimation or communication from the Ministry of Railways or any other authority concerning such a merger. The company affirmed its commitment to comply with continuous disclosure obligations regarding all price-sensitive information.
Clarification on Media Reports
Rail Vikas Nigam Limited (RVNL) has formally responded to inquiries concerning a news item published on “www.ndtvprofit.com” dated March 6, 2026. The headline suggested that the Ministry of Railways had proposed a merger involving IRCON and RVNL, which coincided with a surge in share prices.
Official Stance on Merger Proposal
In its submission to the stock exchanges, RVNL explicitly stated that it has not received any intimation or communication from the Ministry of Railways or any other competent authority regarding the proposed merger of IRCON and RVNL.
The Company reiterated its ongoing commitment to adhere strictly to applicable Listing Regulations, ensuring that all material events and price-sensitive information are promptly disclosed to the exchanges.
Point-wise Response to Exchange Queries
RVNL provided direct responses to specific queries raised by the exchanges concerning the market movement:
- Query 1 (Negotiations): Whether negotiations were taking place was answered with “No”.
- Query 2 (Unannounced Information): Whether the Company was aware of any unannounced information that could explain the trading movement was answered with “No”. The company confirmed it had not delayed disclosing any required information under the applicable regulations.
- Query 3 (Regulatory/Legal Proceedings): Regarding any ongoing regulatory or legal proceedings, the status was listed as “Not Applicable”. Similarly, the material impact of the article on the Company was deemed “Not Applicable”.
Source: BSE
