Railway PSU Bags Order From Northern Railways, Shares Jump 208.5% From Lows

Navratna public sector undertaking RailTel Corporation of India Ltd today received order from Northern Railways for Railway Telecom Project amounting to Rs. 10,92,47,304/-. Current market price of RailTel Corporation of India Ltd shares on BSE is Rs 494.20 per share. RailTel Corporation shares have already surged 208.5% from 52-week low price of Rs 200.30 that the stock hit on October 9, 2024. RailTel Corporation shares offered attractive return of 114% in last 1-year. Check details below:

RailTel Corporation Bags New Order: As per the regulatory filing of RailTel Corporation issued on September 5, 2024, "Pursuant to Regulation 30 read with Part A (B) of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform that RailTel Corporation of India Ltd. ("the Company") has received the work order from Northern Railways for Railway Telecom Project amounting to Rs. 10,92,47,304/-."

RailTel Corporation Receives Navratna Status: The company informed via its BSE filing dated August 30, 2024, "Pursuant to Regulation 30 of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are pleased to inform you that Department of Public Enterprises, Ministry of Finance, Government of India vide its letter no PD-1-26/0002/2024-DPE dated August 30, 2024, has granted "Navratna Status" to RailTel Corporation of India Ltd."

RailTel Corporation of India Shares Performance: The 52-week high price of RailTel Corporation shares on BSE is Rs 618.00 apiece (as on 12/07/2024) and 52-week low price is Rs 200.30 apiece (as on 9/10/2023), respectively. RailTel Corporation shares offered rallied 40% year-to-date (YTD), surged 389% in last 2-years, and offered stunning returns of 282% in last 3-years.

RailTel Corporation of India Dividend: According to the exchange filing of Railtel issued as on July 8, 2024, "Board of Directors of the Company at its meeting held today i.e. Monday, 08th July, 2024 has recommended a Final Dividend at the rate of 18.5% of paid-up share capital (Rs. 1.85/- per share) for the financial year 2023-24." RailTel Corporation shares traded ex-dividend on August 14, 2024.

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 highlights the order win and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.