Multibagger railway stock rose 10% today, here's why 

Shares of RailTel Corporation of India zoomed 10% on Wednesday after the firm said won an order worth Rs 79.84 crore from Maharashtra Housing And Area Development Authority. The multibagger stock rose 10% intra day to Rs 449 today against the previous close of Rs 408.10 on BSE. Market cap of the firm climbed to Rs 13,986.50 crore. Total 15.57 lakh shares of the firm changed hands amounting to a turnover of Rs 68.28 crore. 

Later, the stock closed 7.51% higher at Rs 438.75 on BSE. The multibagger stock has risen 273 per cent in a year and gained 298 per cent in two years. The stock fell to a 52-week low of Rs 202.45 on October 26, 2023 and rose to a record high of Rs 618 on July 12, 2024. 

The stock has a one-year beta of 1.5, indicating high volatility during the period.

In terms of technicals, the relative strength index (RSI) of RailTel stands at 35.4, signaling the stock is neither overbought nor oversold on charts.

"RailTel Corporation of India Ltd has received the work order from Maharashtra Housing And Area Development Authority for Other Project amounting to Rs. 79,84,01,751 (Including Tax)," said RailTel. 

The contract involves  Selection of Service Provider (Cloud Hosting and Managed Service) to Setup, Migrate, and Manage Data Centre (DC) and Disaster Recovery (DR) site for MHADA on Cloud. 

Its expected date of completion is January 15, 2025. 

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.