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RailTel shares in news as firm wins fifth order in September 

RailTel shares in news as firm wins fifth order in September 

RailTel shares gained 1.40% to Rs 467.75 on Friday against the previous close of Rs 461.30 on BSE. Market cap of the firm rose to Rs 15,011 crore.

Aseem Thapliyal
Aseem Thapliyal
  • Updated Sep 30, 2024 9:03 AM IST
RailTel shares in news as firm wins fifth order in September RailTel stock has risen 110 per cent in a year and gained 342 per cent in two years.

Shares of RailTel Corporation of India are in news on September 30 after the company won an order worth Rs 134.46 crore. RailTel shares gained 1.40% to Rs 467.75 on Friday against the previous close of Rs 461.30 on BSE. Market cap of the firm rose to Rs 15,011 crore. Total 1.60 lakh shares of the firm changed hands amounting to a turnover of Rs 7.51 crore. 

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The multibagger stock has risen 110 per cent in a year and gained 342 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 47.7, signaling the stock is neither overbought nor oversold on charts.

"RailTel Corporation of India Ltd. (“the Company”) has received the work order from Adani Connex Private Limited for Services amounting to Rs. 134,46,83,608/-," said RailTel.

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. 

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Published on: Sep 30, 2024 9:02 AM IST
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