Railtel Shares Jump 4% On Securing Rs 120 Crore-Order; Stock Rallies 165.82% In 2-Yrs

Shares of the state-run RailTel Corporation of India jumped 3.64% higher at Rs 304.35 per share at 11:09 am IST on Friday after the company informed Thursday that it has received the work order amounting to Rs. 120.45 Crore (Including GST) from South Central Railway. The order has been received for comprehensive signaling and telecommunication works for the provision of an automatic block signaling system in the Yermaras-Nalwar section of the Guntakal division in the South Central Railway. As per the filing, the time period by which order(s)/contract(s) is to be executed is 720 days.

In an exchange filing on December 28, the company said, "This is to inform that RailTel Corporation of India Ltd. ("the Company") has received the work order amounting to Rs. 120.45 Crore (Including GST) from South Central Railway for comprehensive signaling and telecommunication works for provision of automatic block signaling system in Yermaras-Nalwar section of Guntakal division in South Central Railway."

In yet another development, RailTel Corporation informed on Wednesday (December 27) that it has received the work order from the Bihar Education Project Council for the supply of teaching and learning material for classes I to III under a rate contract amounting to Rs 76.19 crore (including GST).

RailTel share price performance

RailTel shares have rewarded investors with a return of almost 145.94% in the past one year. In the last six months RailTel shares have gained 132.53%, while the stock is up 142.85% in this year so far. The last two year returns from shares of Railtel have increased 165.82%.

About RailTel

RailTel, a "Mini Ratna (Category-I)" Central Public Sector Enterprise is an ICT provider and one of the largest neutral telecom infrastructure providers in the country owning a Pan-India optic fiber network. The OFC network covers important towns & cities of the country and several rural areas.

RailTel was incorporated on September 26, 2000, with the aim of modernizing the existing telecom system for train control, operation, and safety and generating additional revenues by creating a nationwide broadband and multimedia network, laying optical fiber cable using the right of way along railway tracks. Presently, the optic fiber network of RailTel covers over 61,000+ route kilometers and covers 6108+ railway stations across India. Our citywide access across the country is 21000+ kms.