Railway PSU To Declare Dividend, Bags New Order, Buy For TP Rs 458: HDFC Securities

Navratna public sector undertaking (PSU) RailTel Corporation of India Ltd today bagged new order from South Eastern Railway for works amounting to Rs 36,78,15,835 (Including Tax). Last trading price of RailTel Corporation of India shares on BSE today is Rs 391.10 per share with intraday fall of 4.67%. The company will consider financial results on October 28, 2024 and will also declare interim dividend, if any.

Brokerage firm HDFC Securities on October 18, 2024 recommended buy call to RailTel Corporation of India shares with target price of Rs 458 per share for a target time of 10 days. The analyst has suggested to keep the stop loss at Rs 403 per share. The BSE small cap company's market capitalisation stood at Rs 12,551.90 crore. Check details below:

RailTel Corporation of India To Consider Financial Results, Interim Dividend: As per the exchange filing of RailTel Corporation of India dated October 21, "a meeting of the Board of Directors of the Company is scheduled to be held on Monday, 28th October, 2024, inter-alia for the following:-

i. To consider and approve unaudited Financial Results for the quarter and half year ended on 30th September, 2024.

ii. To declare Interim Dividend, if any, for the Financial Year 2024-25."

The Company has fixed Wednesday, 06th November, 2024 as "Record Date" for the purpose of determining the eligibility of Members entitled to receive the Interim Dividend for the FY 2024-25, if any, which is subject to approval of the Board. The Interim Dividend would be paid within 30 days from the date of its declaration at the Board Meeting, added the exchange filing.

RailTel Corporation of India Shares Performance: The 52-week high price of RailTel Corporation shares on BSE is Rs 618.00 per share (as on 12/07/2024) and 52-week low price is Rs 202.45 per share as on (26/10/2023), respectively. RailTel Corporation shares declined 25% in last 3-months, surged 11% ytd, rose 67% in last 1-year, and offered multibagger returns of 275% in last 2-years. In last 3-years, RailTel Corporation of India shares surged 185%.

RailTel Corporation of India Previous Dividend In 2024: According to the exchange filing of Railtel issued as on July 20, 2024, "The Company has fixed Wednesday, 14th August, 2024 as "Record Date" for the purpose of determining the eligibility of Members entitled to receive the Final Dividend of Rs. 1.85/- per share for the FY 2023-24 as recommended by the Board of Directors of the Company in their meeting held on 08th July, 2024. The Final Dividend, if approved at the AGM, will be paid within 30 days from the date of its declaration at the AGM."

About: RailTel Corporation a "Mini Ratna (Category-I)" PSU is one of the largest neutral telecom infrastructure providers in the country owning a Pan-India optical fiber network. RailTel is committed to bring cutting edge technology and offer innovative services to the Indian Telecom market. RailTel is in the forefront in providing nationwide Broadband Telecom & Multimedia Network in all parts of the country in addition to modernization of Train operations and administration network systems, according to its official website.

Disclaimer: The stock has been picked from the brokerage report of HDFC Securities. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.