Shares of RailTel Corporation of India are in news on September 27 after the company won an order worth Rs 155 crore. RailTel shares gained 1.71% to Rs 461.30 on Thursday against the previous close of Rs 453.55 on BSE. Market cap of the firm rose to Rs 14,804 crore. Total 1.54 lakh shares of the firm changed hands amounting to a turnover of Rs 7.07 crore.
The multibagger stock has risen 105 per cent in a year and gained 340 per cent in two years. The stock fell to a 52-week low of Rs 200.30 on October 9, 2023 and rose to a record high of Rs 618 on July 12, 2024.
The stock has a one-year beta of 1.4, indicating high volatility during the period.
In terms of technicals, the relative strength index (RSI) of RailTel stands at 44.7, signaling the stock is neither overbought nor oversold on charts.
"..... has received the work order from Rural Development Department, Mantralaya, Maharashtra for operationalization of ASSK-GP project in Konkan, Pune, Nashik regions amounting to Rs 1,55,71,67,040 (excluding tax)," the company said in its release on Thursday.
The company was granted Navratna status on August 30 this year. After the key development, it has won four orders including the latest one.
On September 17, the company received the work order from Health Insurance TPA of India Ltd. for Service amounting to Rs. 48,70,00,000 (Excluding Tax) for Integrated Claims Management Solution Portal and Mobile Application.
On September 13, has received the work order from Northern Railways for Railway Project amounting to Rs. 19,69,96,886 for Provision of Double Distant in connection with DFC Feeder routes (AMG-UTRZBDSOP, ZBD-JNU(EX), ABP(EX)-TD and UCRPFM) over Lucknow Division.
On September 5, RailTel said it has received the work order from Northern Railways for Railway Telecom Project amounting to Rs 10.92 crore.
RailTel logged a 25.2% year-on-year (YoY) rise in net profit at Rs 48.7 crore for the first quarter ended June 30, 2024 against a net profit of Rs 38.9 crore. Revenue from operations climbed 19.4% to Rs 558.1 crore against Rs 467.6 crore in the corresponding period of the preceding fiscal. EBITDA rose 14.8% to Rs 103.4 crore in the first quarter of this fiscal against Rs 90.1 crore in the year-ago period.
About the company
RailTel Corporation is a Navratna PSU and is one of the largest neutral telecom infrastructure providers in the country owning a pan-India optic fiber network on exclusive right of way (ROW) along railway track. The company's segments include telecom services and project work services.