RailTel Corporation jumps 12%, nears 52-week high on securing work order of Rs 20 crore

RailTel Corporation jumps 12%, nears 52-week high on securing work order of Rs 20 crore

Shares of RailTel Corporation of India rallied over 12 percent to Rs 488 per share on June 21, nearing its 52-week high of Rs 491 apiece. The uptick comes after it bagged work order from South Central Railway worth Rs 20.22 crore.

So far this year, shares of RailTel raced over 44 percent, beating benchmark Nifty 50 index that rose by 8 percent during the same period.

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In an exchange filing, the company stated that the work order is for telecommunications work for provision of IP-MPLS in 523RKM of secunderabad division of South Central Railway. The project will be executed by 18, June 2025.

RailTel has been receiving back-to-back orders this month. Earlier this month, it bagged work order from Tamil Nadu Fibrenet Corporation, National Informatics Centre Services as well as Ministry Of Defence.

In the March-ended quarter, the company reported 3 percent year-on-year (YoY) increase in profit after tax to Rs 77.5 crore, compared to Rs 75 crore in the year-ago period. Its total income also stood at Rs 852 crore in Q4FY24, as against Rs 707 crore in the year-ago period.

RailTel Corporation provides a diverse range of services, such as telepresence services, data center services, MPLS-VPN, Internet leased lines, consultancy services, signalling services, and Aadhaar-based services.

RailTel’s extensive network spans approximately 5,000 railway stations nationwide, covering all major commercial hubs. Additionally, in collaboration with Google, RailTel has been instrumental in offering free WiFi access at select railway stations.

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